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Property Holdings appoint local agents to sell college site

01 April 2010

Jersey Property Holdings (JPH) has appointed BNP Paribas (Jersey) to act as their agent in the appraisal and sale of the former Jersey College for Girls site, which is to be redeveloped for housing.

BNP Paribas (Jersey) were chosen from a number of leading surveyors (all with considerable local representation) who were invited to tender. BNP were selected because their strong local presence combined with an extensive international base will provide the independent professional advice required, to handle the sale of the Girl’s College on the most advantageous terms.

JPH have also appointed seven surveyors to form a panel to act on a range of property matters including the sale of other States properties identified in the States Business Plan.

Commenting on both appointments, the Director of Jersey Property Holdings, David Flowers said:" I am delighted to announce these appointments which represent private / public partnerships that will provide the appropriate expertise to release surplus States properties and deliver best value to the public from their sale.

"JPH is actively pursuing a number of opportunities designed to reduce the total space which States departments occupy. The more efficient use of States properties will lower total property operating costs and bringing departments together will generate additional savings by fostering new and more productive ways of working. As properties are released for sale they will provide opportunities for additional housing sites and generate funds for reinvestment in other States assets." 

Jersey Property Holdings has selected Buckley & Co from its panel of surveyors to progress the sale of the States offices at South Hill. JPH and Buckley & Co are to carry out a detailed feasibility study and this will include discussions with the Parish of St Helier, and the relocation of the occupying departments, to order to identify detailed options before the site is sold.

Mr Flowers concluded," The vacation and sale of the current office site at South Hill will be one of several significant initiatives to be progressed in the coming months and the release of this site will provide an excellent opportunity to develop a first class housing site."

Assistant Minister, Chief Minister’s Department, Deputy John Le Fondré, who is responsible for property, said," We are acutely aware that as a significant landowner the States are in a position to unlock the potential on a number of sites to create reinvestment opportunities in our property assets and infrastructure.

"The former JCG site could provide the States with substantial capital funds for reinvestment and Jersey Property Holdings will be working with BNP Paribas to maximise that potential whilst ensuring that any future development retains and complements the historic elements of the former College buildings, and delivers a significant boost to the construction industry.

"The relocation of States departments and release of the States offices at South Hill also underlies Jersey Property Holdings’ commitment to provide fit for purpose efficient office accommodation for the States and to make the best use of our property assets."

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