The former Social Security building in La Motte Street is due to be sold for £2.3m – around £700,000 less than government initially hoped for.
A report shared by Infrastructure Minister Andy Jehan with the States Assembly this afternoon said that the government intended to accept an offer from a potential purchaser for £1,315,000 to be paid on the date of sale, with “further payment of £1,000,000 to be paid six months after the completion of sale”.
Philip Le Feuvre House, together with Huguenot House on one side and 38 La Motte Street – the former La Motte Street Boys School and Youth Club – on the other, was first advertised for sale in 2024, with expressions of interest sought.
As Express revealed at the time, government was asking for at least £3m for the 1.5-acre site, with the former Social Security headquarters and Huguenot House offices ring-fenced for affordable homes.
However, the site was then taken off the market for a period but then put back on – minus 38 La Motte Street, former education buildings dating to the mid-19th century which once housed La Motte Boys School and were later occupied by the youth service.
That building at the back will remain in the hands of Health and Care Jersey, the Minister’s report explained.
It also confirmed that three bids in total had been received – none of which met the £3m guide price – and that the government, on the recommendation of Jersey Property Holdings, were seeking to accept the second highest.
“The bid that totalled the highest in monetary value was considered to involve
significantly greater levels of risk in respect of the permissions that were associated with
it. That bid also provided a significantly lower sum on the date of sale, with the
remaining payment (representing the majority of the total value of the bid) being
deferred until after the required planning permissions had been granted,” the Minister’s report explained.
It continued: “The bid of £2,315,000 delivers a significantly greater sum on the date of sale, with the remaining sum due six months later. These payments are without condition. Overall, the bid of £2,315,000 was considered to deliver strong value, and likely the
best overall value for money, whilst carrying the lowest risk. On balance, this was
therefore considered to be the preferred option.”
Should no objections be raised by the Assembly, the transaction will be concluded on Thursday 2 April, 15 days after a Ministerial Decision was signed.
