Pine Ridge, West Hill, St. Helier: Transfer from Property Holdings to Housing

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A decision made 10 July 2012:

Decision Reference: MD-H-2012-0064
Decision Summary Title :	DS – Transfer of Pine Ridge, West Hill, St Helier from Property Holdings to Housing		Date of Decision Summary:	04th July 2012
Decision Summary Author:	Asset Management Officer		Decision Summary: Public or Exempt? (State clauses from Code of Practice booklet)	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	WR - Transfer of Pine Ridge, West Hill, St Helier from Property Holdings to Housing		Date of Written Report:	04th July 2012
Written Report Author:	Asset Management Officer		Written Report : Public or Exempt? (State clauses from Code of Practice booklet)	Public
Subject: Transfer of Pine Ridge, West Hill, St Helier from Jersey Property Holdings to Housing.
Decision(s): That the Minister; agreed to the transfer of Pine Ridge, West Hill, St Helier from Jersey Property Holdings (JPH) (MD-PH-2012-0057 refers) to Housing for future development as social housing. agreed to the transfer of associated budgets from JPH.
Reason(s) for Decision: The transfer reflects the appropriate accounting treatment for the property in the States of Jersey accounts on the basis that the site will be developed for social and affordable housing by the Housing Department.
Resource Implications: Financial: The asset and associated budgets will be transferred between JPH and Housing.
Action required: Treasury & Resources to arrange for the asset and any associated budgets to be transferred from JPH to the Housing Department area of the States balance sheet.
Signature:		Position: HOUSING MINISTER
Date Signed:		Date of Decision (If different from Date Signed):

Pine Ridge, West Hill, St. Helier: Transfer from Property Holdings to Housing

DATE OF REPORT: - 04th July 2012

REPORT TO THE HOUSING MINISTER

TRANSFER OF PINE RIDGE, WEST HILL, ST HELIER FROM

JERSEY PROPERTY HOLDINGS TO THE HOUSING DEPARTMENT

Purpose of Report

To seek the approval of the Minister for the transfer of Pine Ridge, West Hill, St Helier together with the associated budgets from the balance sheet of Jersey Property Holdings to the balance sheet of the Housing Department.

Background

The Public acquired Pine Ridge in 2000 under the ‘Bellozanne Bad Neighbour’ purchase policy, along with the neighbouring houses Narkunda and Chantermerle (see attached location plan).

The policy was approved by the States in 1997, its purpose being to provide an opportunity for the Public to acquire properties within a 100 metre radius of the incinerator chimney which ‘came onto the market’. It was subsequently rescinded when a decision was made that the incinerator chimney would be decommissioned.

Narkunda and Chantermerle have been used by the Housing Department as social rental units since being acquired.

Pine Ridge however, was in poor condition when it was acquired, and the Housing Department decided against refurbishing it for social rental use. As there was no other identified use for the property, a decision was made to board it up pending a longer term decision, and it has remained empty since then.

Current Situation

The property has been vacant for c.10 years and its potential for use as either 1 large or 2 smaller social rented units has since been recognised by the Housing Department. It also benefits from being adjacent to Narkunda and Chantermerle, possibly adding to the site value (based on the environmental improvement of Bellozanne Valley) and long-term strategic potential of the entire site.

In isolation the property commands a low market value, which is attributable to its poor physical condition, its proximity to the Bellozanne site and the incinerator chimney. However, were it to be aligned with Narkunda and Chantermerle the increase in development potential may have a positive impact on any future proposals for the redevelopment of the whole site.

In the short term the Housing Department sees this as a good opportunity to provide a detached unit for social tenants who may not necessarily suit life on an estate location or for the creation of two smaller units for general social housing use.

On the 18th June 2012 the Assistant Minister for Treasury & Resources approved the transfer of Pine Ridge from Property Holdings to Housing, MD-PH-2012-0057 refers.

Resource Implications

The asset and associated budgets will be transferred between Jersey Property Holdings and Housing.

Recommendations

That the Minister agree to the transfer of Pine Ridge, West Hill, St Helier and the associated budgets from the balance sheet of Jersey Property Holdings to the Housing Department with effect from 13th July 2012.

Report Prepared By:- ………………………….... Date: 04th July 2012

David Reid

ASSET MANAGEMENT OFFICER

Report Checked By:- ………….……………….... Date: 04th July 2012

Lindsay Wood

FINANCE MANAGER

Report Approved By:- ………….……………….... Date: Carl Mavity

DIRECTOR OF STRATEGIC DEVELOPMENT