Just over 30 apartments within the Jersey Development Company’s planned Westward scheme have been reserved so far – for a total value of £21.49m – with the States-owned developer looking to enter a construction contract next month.
The figure was revealed by Treasury Minister Elaine Millar, who said that if the reservations are converted into formal pre-sale contracts the States-owned developer will have met the requirement to begin construction on the project.
Assuming all reservations convert to formal pre-sale contracts, this total value of pre-sales meets the requirement for construction to commence
Treasury Minister Elaine Millar
The Westward scheme will see around 140 apartments built on the site of the former Planning offices at South Hill.
The update follows comments made by Deputy Millar last month, when she told the States Assembly that she had signed a ministerial decision to allow the JDC to enter into a design and build contract for the development of the site.
At the time, the minister said that the JDC had “achieved pre-sales of a little over £10 million, which is I think about 15 apartments”.
But in response to a recent written question from Deputy Alex Curtis this week, Deputy Millar confirmed that the JDC had now “secured reservations on 31 apartments for a total value of £21.49m”.
“These reservations are in legal hands for the formalising of the pre-sale contracts,” Deputy Millar explained.
“Assuming all reservations convert to formal pre-sale contracts, this total value of pre-sales meets the requirement for construction to commence,” she continued.
“SoJDC is targeting entering into the construction contract by the end of May.”