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A decision made (24.04.08) to approve the 21 year lease of Oakfield Building, Highlands College, St. Saviour to Jersey Employment Trust.

Decision Reference: MD-PH-2008-0025
Decision Summary Title:	Oakfield Building, Highlands College, St Saviour – 21 Year Lease to The Jersey Employment Trust		Date of Decision Summary:	08th April 2008
Decision Summary Author:	Jonathan Quérée		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Oakfield Building, Highlands College, St Saviour – 21 Year Lease to The Jersey Employment Trust		Date of Written Report:	08th April 2008
Written Report Author:	Jonathan Quérée		Written Report : Public or Exempt?	Public
Subject: JQ 116/6 - Oakfield Building, Highlands College, St Saviour – 21 Year Lease to The Jersey Employment Trust.
Decision(s): 1. The Minister approved, as recommended by Property Holdings, an amendment to an earlier decision dated 21st September 2006 (MD-PH-2006-0082). The Minister noted that the total area to be let to the Jersey Employment Trust in respect of the Oakfield Building, Highlands College, St Saviour lease had increased from 14,656 sq ft to 16,264 sq ft.
Reason(s) for Decision: 1. Under Standing Order 168 (1) (a) and 168 (3) the Minister hereby notified the States that he had accepted the recommendation of Property Holdings to agree to the above land transaction. 2. Under Standing Order 168 (5) the Minister hereby authorised the Attorney General and the Greffier to pass any contract which is required to be passed on behalf of the Public.
Resource Implications: There are no financial or manpower Implications.
Action required: 1. In accordance with Standing Order 168 (3) this decision must be presented to the States at least 15 working days before the contract is passed. After the expiry of 15 working days following presentation to the States the transaction may be concluded. 2. The Director of Property Holdings is to instruct the Attorney General and the Greffier to pass the necessary contract, and to copy this decision to the Minister, Treasurer and Deputy Treasurer.
Signature:		Position: Deputy J A N Le Fondré Assistant Minister* MD-PH-2008-0025
Date Signed:		Date of Decision:

Oakfields Building, Highlands College, St. Saviour - lease to Jersey Employment Trust

TREASURY AND RESOURCES DEPARTMENT

PROPERTY HOLDINGS

Property Transaction for Ministerial Decision - Minister for Treasury and Resources

Oakfield Building, Highlands College, St Saviour – 21 Year Lease to The Jersey Employment Trust

JQ 116/6

AMENDMENT

Purpose:

The Purpose of this report is to request the Minister for Treasury and Resources to agree to an adjustment to the lease terms (negotiated between the Public and the Jersey Employment Trust in respect of the “Oakfield Building”, Highlands College, St Saviour) - approved by Ministerial Decision on the 21st September 2006 (MD-TR-2006-0082).

Background:

There have been three previous decisions approved in respect of this lease negotiation;

i) Report dated 14th December 2005 and Delegated Authority Decision (ref MD- TR-2006-0007) dated 05th January 2006 – rescinded due to adjustment required to total let area.

ii) Report dated 11th September 2006 and Ministerial Decision (ref MD-PH-2006- 0082) dated 21st September 2006 - rescinded due to adjustment required to total let area.

iii) Report dated 06th February 2007 and Delegated Authority Decision (ref MD- PH-2007-0010) dated 08th February 2007 – rescinded due to adjustments to total let area having been approved – incorrectly – under delegated authority.

Current Situation

The terms and conditions approved by the Minister for Treasury and Resources on the 21st September 2007 in respect of the proposed lease to The Jersey Employment Trust were rescinded due to a further required adjustment to the total let area.

On the 06th February 2007, the Director of Property Holdings approved the required amendment under delegated powers - It has since been noted that the Director of Property Holdings was unable to approve the amendment to the Ministerial Decision of the 21st September 2007 under delegated powers.

The purpose of this present report is to seek the direct approval of the Minister for Treasury and Resources – through the Ministerial process - for the proposed further required adjustment to the total let area (which will increase from 14,656 sq ft to 16,264 sq ft) noted above. The salient terms of the agreement will

remain un-changed; a 21 year lease of the Oakfield Industries Facility to The Jersey Employment Trust at a commencing rental of £8,000.00 per annum.

Conclusion

To finalise the lease negotiation, it will be necessary for the Minister for Treasury and Resources to agree to the above mentioned amendment.

Recommendation

It is the recommendation of Property Holdings that the Minister for Treasury and Resources agrees to the above mentioned amendment.

Written By: Jonathan Quérée

Signature …………………………

Authorised By: Director Property Holdings

Signature ………………………… Date: 08th April 2008