Lease of site at Highlands College, St. Saviour.

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A decision made (04/10/2006) regarding Lease of site at Highlands College, La Rue du Froid Vent, St. Saviour.

Subject:	Lease of site at Highlands College, La Rue du Froid Vent, St Saviour
Decision Reference:	MD-PH-2006-0075	Exempt clause(s):		None
Type of Report: (oral or written)	Written	Person Giving Report (if oral):		N/A
Telephone or e-mail Meeting?	N/A	Report File ref:		1957/3
Written Report – Title	Lease of site at Highlands College, La Rue du Froid Vent, St Saviour	Written report - author		P Griffin
Decision(s): 1. For the Public to enter into a 99 year lease with La Petite Ecole (Property) Limited for the site to be known as Nursery Site, Highlands College, St Saviour from a date to be agreed between the parties. The rental will commence in the second year allowing a rent free period for the first year to allow the building to be constructed. The rental will then be as follows: Year 2 £2,500, Year 3 £5,000, Year 4 £7,500 and Year 5 £9,000. Thereafter it will be increased every five years in line with the Jersey Retail Price Index. On the 30th and 60th anniversary of the commencement of the lease, the rent is to be reviewed to “Market Rental Value” rather than in line with the JRPI figure and for the avoidance of doubt this will allow the rent to decrease as well as increase. 2. Under Standing Order 168 (1) (a) and 168 (3) the Minister for Treasury and Resources hereby notifies the States that he has accepted the recommendation of Property Holdings to agree to the above land transaction. 3. Under Standing Order 168(5) the Minister hereby authorises the Attorney General and the Greffier of the States to pass any contracts on behalf of the Public of Jersey that may be necessary. After the expiry of 15 days following presentation to the States the transaction may be concluded.
Reason(s) for decision: To allow the Public to formalise an agreement for the provision of a facility in order for the Lessee to invest in the provision of nursery facilities in the Island. Under Standing Order 168 (1) (a) and 168 (3) the Minister is required to notify the States of his acceptance of recommendations to dispose, acquire, let or rent land on behalf of the Public of Jersey.
Action required: The Director of Property Holdings to request the Greffier of the States to notify the States of the above decision. The Greffier of the States to notify Property Holdings, and Law Officers’ Department of the date when the States has been notified. After the expiry of 15 days following presentation to the States, request the Attorney General and the Greffier of the States to pass any contracts on behalf of the Public of Jersey that may be necessary.
Signature: (Assistant Minister)[1] Deputy J Le Fondré			Date of Decision: MD-PH-2006-0075