Piquet House, 11 Royal Square, St. Helier: Proposed disposal

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A decision made 8 May 2012:

Decision Reference: MD-PH-2012-0040
Decision Summary Title :	DS – Piquet House (11 Royal Square) - Proposed Disposal		Date of Decision Summary:	2/5/2012
Decision Summary Author:	Acting Director JPH		Decision Summary: Public or Exempt?	Exempt Clause refs. 3.2.1(a)(x)
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	WR - Piquet House (11 Royal Square) - Proposed Disposal		Date of Written Report:	2/5/2012
Written Report Author:	Acting Director JPH		Written Report : Public or Exempt?	SD – Exempt Clause refs. 3.2.1(a)(x)
Subject: Piquet House (11 Royal Square) - Proposed Disposal (1404-01-001)
Decision(s): 1. The Minister confirmed the approach to dispose of Piquet House as set out in the attached report; 2. The Minister authorised Property Holdings to enter into formal negotiations to draw up Heads of Terms for consideration and authorisation by the Minister.
Reason(s) for Decision: 1. States approval to dispose of the property was obtained in the States Annual Business Plan 2009. 2. The property has no identified future operational use.
Resource Implications: No rental income is generated from the current building occupiers, who will be relocated should the disposal progress. All costs associated with the transaction and relocation will be met from within identified budgets held by Property Holdings. The capital receipt generated from disposal will be returned to the Consolidated Fund to support the target for receipts contained within the States Business Plan.
Action required: 1. Acting Director, Property Holdings to prepare Heads of Terms for consideration by the Minister.
Signature:		Position: Deputy E J Noel * Assistant Minister for Treasury & Resources
Date Signed:		Date of Decision: MD-PH-2012-0040