Weighbridge Park, St Helier: Lease Variation

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A decision made on 4 October 2019

Decision Reference: MD-PH-2019-27
Decision Summary Title :	Weighbridge Park, St Helier – Proposed: (i) Variation of the Present Lease to the States of Jersey Development Co Ltd; (ii) New Lease to SoJDC for the remaining Land; (iii) Assignment of the Present Lease from SoJDC to a New Tenant.		Date of Decision Summary:	01 October 2019
Decision Summary Author:	Principal Property Manager		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	Weighbridge Park, St Helier – Proposed: (i) Variation of the Present Lease to the States of Jersey Development Co Ltd; (ii) New Lease to SoJDC for the remaining Land; (iii) Assignment of the Present Lease from SoJDC to a New Tenant.		Date of Written Report:	01 October 2019
Written Report Author:	Principal Property Manager		Written Report : Public or Exempt?	Exempt: QE Article 33(b) and QE Article 34(b) SD1: Public SD2: Exempt QE Article 33(b) and QE Article 34(b)
Subject: Weighbridge Park, St Helier – Proposed: (i) Variation of the Present Lease to the States of Jersey Development Co Ltd (“SoJDC”); (ii) New Lease to SoJDC for the remaining Land; (iii) Assignment of the Present Lease from SoJDC to a New Tenant. PBA 0372-01-001
Decision(s): In connection with his previous decision MD-PH-2018-0019 and in accordance with Standing Order 168 (1) (a), (ca) & (cb) the Minister agreed, as recommended by Jersey Property Holdings: (i) in respect of decision “a.” under MD-PH-2018-0019, to confirm that that decision remains correct, valid and unaltered (ii) in respect of decision “b.” under MD-PH-2018-0019, to confirm that that decision remains correct, valid and unaltered (iii) in respect of decision “c.” under MD-PH-2018-0019, that that decision be revised in respect of the new tenant to which the original 2007 lease, once varied, is to be assigned to – as detailed in the accompanying report
Reason(s) for Decision: The States of Jersey Development Co Ltd’s Board wishes to sell various investment properties which sit outside of the company’s core business and which would be used to support cash-flowing from the company’s core development activities.
Resource Implications: The financial implications of this decision are detailed in the accompanying report. There are no manpower implications in respect of this decision. When the transaction is concluded the fixed asset register and States balance sheet will be amended to account for the transaction.
Action required: Under Standing Order 168 (5) the Attorney General and the Greffier to pass any contract which is required to be passed on behalf of the Public.
Signature:		Position: Deputy K Lewis Minister for Infrastructure
Date Signed:		Date of Decision (If different from Date Signed):