TREASURY AND RESOURCES DEPARTMENT
JERSEY PROPERTY HOLDINGS
Property Transaction for Ministerial Decision - Minister for Treasury and Resources
Former Ann Court Site, St Helier – Transfer to Jersey Property Holdings from the Housing Department
RFo 0877-01-001
Purpose
To seek the approval of the Minister to transfer the former Ann Court site, St Helier to the balance sheet of Jersey Property Holdings (JPH) from the Housing Department in anticipation of a disposal of the site for redevelopment as affordable housing.
Background
The former Ann Court site is in the administration of the Housing Department and comprises a temporary car park, which is partly closed to enable Transport and Technical Services (TTS) to undertake the Philip’s Street flood alleviation works, and properties 65 to 70 Ann Court, 33, 35, 37 and 39 Ann Street and 1 and 2 Clifton Place, which are rented out by the Housing Department.
The agreement for TTS to use the site as a car park expires in January 2015. The intention has always been that the site would revert to the provision of affordable housing.
Proposal
Jersey Homes Trust (JHT) has expressed an interest in developing the site and initial discussions have taken place between them and the Housing Department. The Housing Department consider that JHT would be an appropriate body to develop the site and manage the resulting affordable homes. This position is set out in MD-H-2013-0059 and accompanying report (copy attached).
As the site is no longer required by the Housing Department, and to effect a disposal of the site to a third party, it is proposed that the site be transferred from the Housing Department’s balance sheet to that of JPH (Treasury and Resources) in advance of Housing finalising its property portfolio on incorporation.
As the site is a mix of temporary car park and occupied social housing, it is proposed that the car park site is transferred immediately and the existing social housing, comprising 65 to 70 Ann Court and 33, 35, 37 and 39 Ann Street and 1 and 2 Clifton Place, is transferred at a future date when the development proposals are finalised.
As the site has been identified for disposal, in accordance with the States accounting regulations it will no longer be subject to a depreciation charge and, hence, no budgets will be transferred from the Housing Department.
The North of Town Masterplan identifies the site as appropriate for a combination of residential development and public shopper parking.
JHT have engaged the services of Riva Architects to consider the development potential of the site and will be seeking assurance from the Public that the site will be made available to them, subject to agreed terms and conditions.
It is, therefore, proposed that the Minister for Treasury and Resources authorise JPH, on behalf of the Public, to engage an agent to enter into formal negotiations with JHT and other stakeholders, such as TTS and the Strategic Housing Unit, with regards to the future use of the site.
Financial Implications
As the site has been identified for disposal, in accordance with the States accounting regulations it will no longer be subject to a depreciation charge and, hence, no budgets will be transferred from the Housing Department.
The transfer between two entities within the States has no impact on either party’s near cash account on transfer. The rental payment from TTS for the temporary use of the site as a car park until January 2015 will be received by Housing.
Recommendations
That the Minister:
Approve the immediate transfer of the Ann Court site, with the exception of 65 to 70 Ann Court and 33, 35, 37 and 39 Ann Street and 1 and 2 Clifton Place as defined in MD-H-2013-0059, from the Housing Department’s balance sheet to the balance sheet of the Treasury and Resources Department (Jersey Property Holdings).
Approve the future transfer of 65 to 70 Ann Court and 33, 35, 37 and 39 Ann Street and 1 and 2 Clifton Place from the Housing Department’s balance sheet to the balance sheet of the Treasury and Resources Department (Jersey Property Holdings).
Authorise JPH, on behalf of the Public, to engage an agent to enter into formal negotiations with JHT and other relevant stakeholders to consider the future use and potential disposal of the site.
Written by (Director/Assistant Director JPH)
Signature ………………………… 7 August 2013