Apartment 5, Block A, Les Quennevais Park, St. Brelade: Transfer of leasehold to flying freehold

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A decision made 30 November 2015:

Decision Reference: MD-PH-2015-0124
Decision Summary Title:	Apartment N° 5, Block A Les Quennevais Park – Transfer of the Public’s Flying-Freehold Ownership and Cancellation of Existing 99 Year Lease		Date of Decision Summary:	25 November 2015
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:	Apartment N° 5, Block A Les Quennevais Park – Transfer of the Public’s Flying-Freehold Ownership and Cancellation of Existing 99 Year Lease		Date of Written Report:	25 November 2015
Written Report Author:	Principal Property Manager		Written Report : Public or Exempt?	Report: Exempt QE Article 33(b) and QE Article 34(b) SD1: Public SD2: Exempt QE Article 33(b) and QE Article 34(b)
Subject: Apartment N° 5, Block A Les Quennevais Park – Transfer of the Public’s Flying-Freehold Ownership and Cancellation of Existing 99 Year Lease PBA 1028-01-005
Decision(s): The Minister decided, as recommended by Jersey Property Holdings (JPH), to: cancel the existing 99-year lease of the above-mentioned apartment, and to transfer to the present lessees the Public’s flying freehold interest in the unit - for an agreed consideration, plus reasonable costs incurred - in accordance with the approved policy (under MD-PH-2012-0124), and the independent valuation arranged by JPH, confirm the above decision after giving the States 15 working days’ notice of the transaction, and to cause the transaction to be completed.
Reason(s) for Decision: Under Standing Order 168 (1) (a) the Minister is obliged to notify the States that he has accepted the recommendation of Jersey Property Holdings to agree to the above land transaction.
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 States asset balance sheet will be amended to account for the transaction.
Action required: 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.
Signature:		Position: Deputy E J Noel * Assistant Minister for Treasury & Resources
Date Signed:		Date of Decision (If different from Date Signed):