TREASURY AND RESOURCES DEPARTMENT
JERSEY PROPERTY HOLDINGS
Property Transaction for Ministerial Decision - Minister for Treasury and Resources
Le Bénéfice and Adastan, St Clement
Request for the Public to be Party to Contract of Transfer
PBA 1909
Purpose
To seek the consent of the Minister for Treasury and Resources for the Public to be party to a contract of transfer between the CTJ Housing Trust and Mrs Julie Ann Maindonald, née Monamy.
Background
In 2006 the Public sold to the CTJ Housing Trust the housing development known as Le Bénéfice for £12.88M.
Adjoining Le Bénéfice is a dwelling known as Adastan, Glendale Avenue, La Grande Route de la Cote, St Clement owned by Mrs Julie Ann Maindonald, née Monamy.
When the Public sold the development to the Trust in 2006, the boundary with Adastan was inadequately defined in the historic contracts, and the Trust has since sought to address this title issue.
The Trust is therefore proposing to transfer a small section of bank to Mrs Maindonald, thus establishing a certain boundary between the two properties.
Within the Public’s 2006 contract of sale of Le Bénéfice there are two clauses which potentially affect the proposed transaction between the Trust and Mrs Maindonald:
- That if the Trust ever wishes to sell all or part of the development, the Public shall have first option to buy back.
- That the development is to be used exclusively for social rented housing.
It is recommended that Public does not exercise its right to buy back the bank which the Trust proposes to transfer to Mrs Maindonald. It is also recommended that the Public agrees to exclude the social rental housing use from the bank so as to allow its transfer.
It is therefore necessary for the Public to be party to the contract of transfer between the Trust and Mrs Maindonald to agree that those two clauses in the 2006 contract of sale will not apply to the subject bank.
The Housing Department was responsible for Le Bénéfice development and its sale to the Trust, and it has agreed to this proposal.
Mrs Maindonald has agreed to meet the Public’s fees in connection with being party to the contract of transfer – Jersey Property Holdings’ fee to be £500 and the Law Officers’ Department’s fee to be based upon time involved.
Recommendation
It is recommended that the Minister agrees to the Public being party to a contract of transfer of a small section of bank between Le Bénéfice, owned by the CTJ Housing Trust, and Adastan, owned by Mrs Julie Ann Maindonald, née Monamy, with the Public’s fees in connection with the party contract to be met by Mrs Maindonald.
Written By: Principal Property Manager
Signature …………………………
Authorised By: (Director/Assistant Director PH)
Signature ………………………… 06 March 2009