26 La Rue de Carteret, St. Saviour

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[THIS DECISION HAS BEEN RECINDED BY MD-H-2009-0080] A decision made (24/09/2009) regarding: 26 La Rue de Carteret, St. Saviour - Sale.

Decision Reference: MD-H-2009-0076
Decision Summary Title :	DS – Sale – La Rue De Carteret 2009		Date of Decision Summary:	22 September 2009
Decision Summary Author:	Dominique Caunce		Decision Summary: Public or Exempt? (State clauses from Code of Practice booklet)	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:
Written Report Title :	WR - Property Transaction Report for the Housing Minister		Date of Written Report:	22 September 2009
Written Report Author:	Dominique Caunce		Written Report : Public or Exempt? (State clauses from Code of Practice booklet)	Exempt 3.2.1 (a)(i)
Subject: Social Housing Property Plan 2007 – 2016: sale of No. 26 La Rue De Carteret, St Saviour.
Decision(s): The Minister; approved the sale of the following property, to the approved First Time Buyer and at the actual sale price set out in detail in the attached report:- No. 26 La Rue De Carteret, Rue des Pres, St Saviour, JE2 7RA with a first time buyer value of £385,000 to TAG0511 for the sum of £304,150. The transaction being subject to a deferred payment condition as set out in the individual contract of sale. The property shall also be subject to conditions which will require that; any onward sale is to a bone fide first time buyer and that only one unit of accommodation shall be maintained on the site. All areas of land to be included in the proposed transaction are marked on the attached site plan for this Estate. Property Holdings acknowledge that this Estate is already of mixed tenure, following a large number of sales in 1982 of the first time buyer homes at the “Bashfords Nurseries Development”. All of the homes sold in 1982 have contractual obligations to contribute to the maintenance of the common parts. Property Holdings acknowledge that the advice of the Law Officers’ Department is that all new sale contracts should be consistent with the 1982 originals and that a Residents Association would not be required until such time as the Public chose to sell over 50% of the properties. requested that the Treasury & Resources Minister similarly agree and authorise the Greffier of the States and Attorney General to pass the necessary contract of sale before the Royal Court; directed that the resultant funds be credited as budget to the Housing Department account HYR000.121010
Reason(s) for Decision: To ensure that the sales are carried out in accordance with Standing Order 168 and the States approval of P6.2007.
Resource Implications: Financial: £304,150 receipt as agreed on States approval of P6.2007 to be credited as budget to the Housing Department account HYR000.121010 with deferred payments totalling £80,850 to be recorded as a long term asset on the department’s balance sheet.
Action required: Director of Sales and Lettings to arrange for Treasury and Resources Minister’s approval and oversee the passing of the contract and receipt of funds.
Signature:		Position: Minister
Date Signed:		Date of Decision (If different from Date Signed):