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North of Town Masterplan - amended - report and proposition

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A decision made 7 May 2010 regarding: North of Town Masterplan - amended - report and proposition.

Decision Reference:   MD-PE-2010-0058

Decision Summary Title:

Amended North of Town Masterplan – Draft Report and Proposition

Date of Decision Summary:

6 May 2010

Decision Summary Author:

Director of Planning

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

Written Report

Title:

Amended North of Town Masterplan – Draft Report and Proposition

Date of Written Report:

6 May 2010 

Written Report Author:

Director of Planning

Written Report :

Public or Exempt?

Public

Subject: Amended North of Town Masterplan –Report and Proposition

Decision(s):

The Minister approved the attached Report and Proposition seeking the endorsement of the States to the Northern Area Masterplan, St. Helier and to certain Key Site Proposals.

Reason(s) for Decision:

The Minister seeks the endorsement of the States for the Amended North of Town Masterplan, following consultation on the original Masterplan.

Resource Implications: There will be costs in implementing the Masterplan, as described in the projet, but not in adopting the Masterplan itself.

Action required:

To request the Greffier of the States to lodge the report and proposition ‘au Greffe’ as soon as practicable.  It is proposed that the proposition be debated at the 22 June 2010 sitting of the States

Signature:  

Position

Minister

Date Signed:

7 May 2010 

Date of Decision (If different from Date Signed)

North of Town Masterplan - amended - report and proposition

Final

7 May 2010

 

NORTH OF TOWN MASTER PLAN  

PROPOSITION  
 

THE STATES are asked to decide whether they are of opinion −  

To endorse the intention of the Minister for Planning and Environment to adopt the Masterplan for the North of Town as an agreed development framework (as shown in appendix 2)  
 

Senator F E Cohen

Minister for Planning and Environment 
 
 
 

 
 

REPORT  

BACKGROUND TO THE MASTERPLAN  

Introduction  

1.      Since 1995, there have been repeated calls for a Town Park to be created on the site of the Old Gas Works as a way of marking the Millennium, and numerous ideas and plans have been suggested as to how this should happen.

 

2.     However, whilst they have all been proposed with the best of intentions, they have failed to address  fundamental principles such as how the new park can be stitched into the existing urban fabric and become an integral part of the town, and how the project, including the provision of alternative parking, can be funded.

 

3.     This Masterplan is the first attempt to put the new park into its proper urban context, which respects the townscape and creates a park that repairs the urban character of this part of the town, creating a meaningful open space that is available to all, but in particular that the residential community of the area can use and enjoy. In addition it increases the amount of open amenity space in other parts of the area.

 

4.     The Masterplan centres on the site of the proposed town park in Gas Place and covers the area from Rouge Bouillon in the north to West’s Centre in the south, and St Saviour’s Road in the east to Val Plaisant in the west.

 

5.     In March 2009 the Minister for Planning and Environment appointed Hopkins Architects, in conjunction with Robert Townshend Landscape Consultants and prominent local firm Naish Waddington Architects, to prepare a Masterplan for the northern part of St Helier.

 

6.     Hopkins Architects are one of the top architectural and masterplanning practices in world and have won many international accolades for their pioneering, often complex, high quality projects. In consultation with local architects Naish Waddington, the practice has developed a Masterplan of the highest quality for the future development of the north part of town.

 

7.     Hopkins plan demonstrates their careful understanding of how this part of town evolved, how it currently works and their expert interpretation of how it could work in the future. Their plan demonstrates how a new urban park can be carefully stitched into the fabric of the town to repair the townscape and provide meaningful space for the people who live there and those who pass though the area daily, be they shoppers, commuters, school children and tourists.

 

8.     Public consultation on the Masterplan produced many thoughtful and encouraging comments which have helped to refine the final version and the Minister for Planning and Environment now seeks endorsement from the States Assembly for its adoption.

 

9.     Appendices:

 

1.     The Consultant’s Brief

2.     The Amended Masterplan

3.     Design Guidance for Privately Owned Sites

4.     Financial Summary

 
 

THE MASTERPLAN CONSULTATION 

5.     Work on the Masterplan commenced in March 2009 and the draft was published for public consultation on 26 September 2009. Comments were invited on the following issues:

 

§     The principle of regenerating the Northern part of Town.

§     The redevelopment of Ann Court to include residential development around three sides, enclosing a central public open space, with underground shoppers’ and residents’ parking.

§     The creation of a new town park, with perimeter residential development and underground commuters’ and residents’ car parking;

§     The redevelopment of Minden Place car park with a mixed use development with public open space.

§     Environmental improvements to Bath Street and David Place consisting of a one way north-bound traffic flow with wider pavements and landscaping.

§     The redevelopment of the Parish of St Helier’s Belmont Gardens car park which proposed a small residential development and public open space.

§     The creation of new pedestrian routes to connect Bath Street to Halkett Place, and Gas Place to Belmont Road.

§     The redevelopment of Green Street car park to provide additional commuter and residential parking to replace that lost in Gas Place, and residential development.

 

The Public Response to Consultation 

6.     The public consultation took place over 3 months and attracted over 450 responses, obtained from public exhibitions, surveys and written responses.

 

7.     The Public supported:

 

§     The principle of regenerating the North of Town;

§     The principle of providing more public open space in the town;

§     The provision of a town park on the Gas Place and Talman sites with an approximate 50/50 split on whether housing should be included on the periphery of the site;

§     The creation of underground parking;

§     The redevelopment of Ann Court for residential, open space and underground parking uses;

§     The provision of open space and commercial development at the site of Minden Place car park once the car park reaches the end of its design life.

§     Environmental improvements to Bath Street and David Place and increased pedestrian permeability;

§     The provision of mixed-tenure housing to include affordable, social rent and homes for the elderly; and

§     The principle of funding the public amenity and environmental improvements from development receipts.

 

8.     Concern was expressed over:

 

§     The development of buildings on the Talman site and the western corners of Gas Place and the impact this would have on the size of the park.

§     The loss of parking for residents and businesses at Gas Place, with potential damage to the viability of existing hotels and small businesses in the area as a result of less parking for clients. Extending Green Street car park was not considered to be a reasonable alternative.

§     The loss of parking at Minden Place which would be a problem for  the elderly and infirm;

§     The creation of a one way system in Bath Street, which could be detrimental to emergency services and existing businesses.

§     The construction of buildings on Belmont Road car park which would be detrimental to neighbouring residential property;

 

Picnic in the Park Event

9.     In addition to the Minister’s formal public consultation, the Millennium Town Park Support Group held the Picnic in the Park event, which resulted in 230 comments and provided the following indication:

§     Nearly everyone who commented (221 people) supported the idea of creating open space in the town;

§     95 people specifically wanted a park with no new development on the site;

§     Only 10 people disagreed or felt the money should be spent on other things.

 

Ann Court Petition 

10.     On 27 November 2009, Deputy J A Martin of St Helier, lodged a proposition (P.202/2009) containing and supporting a petition containing 2,588 signatures opposing the (then) proposal to construct an above ground multi-storey car park on the site of Ann Court (to replace the spaces lost at the Town Park site and Minden Place car park).  The Deputy’s proposition, which the States agreed, was to abandon the car park proposal and charged the Council of Ministers to bring forward alternative proposals for the Ann Court site as part of the North of Town Masterplan.

 
 

11.     THE MASTERPLAN CHANGES

 

12.     It is interesting to note that despite considerable publicity against development on the ‘Town Park Site’, the overall results were more or less equal between those opposing development and those supporting it.  Several comments were of the ‘get on with it’ variety.

 

13.     Even though the overall number of responses was less than 700, it was still sufficient to give an indication of the public’s thoughts to the Masterplan proposals and as a result several changes were made.

 
 

Open Space

14.     The overwhelming message from both the Minister’s consultation, and the Picnic in the Park event, was that more public open space should be created in the town. Accordingly, the proposal to include housing development on the Talman and Belmont Gardens site have been removed and housing on the Gas Place site significantly reduced..

 

15.     However, some development is retained on the eastern edge of the Town park site for the following purposes:

 

§     To regenerate the area, particularly the residential community, which will help the Island’s housing needs.

§     To repair the townscape by providing an attractive, appropriate scale, building for that part of the town. The building will provide a framework to the space and in townscape terms will provide a counterpoint to the enclosure provided by the Odeon Cinema to frame the new town park.

§     To provide ‘people policing’ to ensure a safe community environment, all of the time, through natural surveillance of the park.

§     To help revitalise that part of the town, providing a community focal point, where people can meet and relax.

§     To generate economic benefits, employment and activity, through increased property values, cafes, restaurants, open air events, etc.; and

§     To provide a financial return which helps pay for the park and underground car park.

 
 
 
 

16.     The Masterplan seeks to deliver over 8 vergees of new public open space as shown in the table below.

 

Approximate areas of new public open space 
 

  Town Park      10,900m² 6v

  Belmont Gardens    550 m²  0.3v

  Ann Court     2480 m² 1.36v

  Site of Minden Place CP  260m²  0.14v

  Facing Old Fire Station  400 m²  0.22v 

    Total     14,590m² 8.02v 

    Original Town Park alone  12,710m² 7v 

 

Car Parking

17.     The loss of public car parking from Gas Place was a major concern and the proposed alternative at Green Street was considered to be too far from the area it serves. Accordingly the redevelopment of Green Street car park has been completely removed from plan and parking beneath the Town Park and Ann Court has been increased.

 

18.     Although Green Street car park has been removed from the plan, it is clearly an opportunity site for the States which will come forward as a separate development initiative in the future.

 

19.     The proposed underground car parks are based on traditional basement construction and conventional parking format. However, there are parking systems using state of the art technology which can significantly improve operational efficiency and reduce costs. Accordingly, if the plan is endorsed by the States, the Minister for Planning and Environment will ensure that the most appropriate and cost effective approach to underground parking is adopted.

 

Ann Court

20.     The proposition P202/2009 was considered by the States on 10 March 2010 when it was agreed that the proposal to develop Ann Court for a multi-storey car park should be abandoned. The Masterplan proposes housing development enclosing public open space, with underground car parking.

 

Minden Place

21.     The relocation of Minden Place car park to Ann Court was a concern particularly for disabled drivers. Accordingly, it is proposed that the redevelopment scheme incorporates a number of disabled, short stay car parking spaces at street level.

 
 

THE MASTERPLAN

 

Key Intervention Sites

 

22.     The Masterplan takes a pragmatic look at the interventions that can be made and sites that can be developed by the States themselves.

 

23.     There are several sites owned by the Public, the development of which can be co-ordinated to achieve the aims of the Masterplan. A balance between the costs of public realm improvements and the capital released from development has been sought, with the intention that the development will finance the public realm and parking improvements. The financial details are contained in appendix 4.

 

24.     It is considered important that the States can actively start development with its own funding stream without reliance on private finance. The States will take an active role to pump-prime the regeneration of the north of town area. This pro-active approach will send a clear signal to local landowners that the North Town is an area worth investing in.

 

25.     The improved public realm, reduced traffic congestion, new parks and new developments will set the quality benchmark for other future, privately financed developments.

 

Privately Owned Development sites

 

26.     Privately owned potential development sites have been looked at as part of this Masterplan, and advice has been given on use and massing. The consultation has already prompted a number of key private land owners to think about redevelopment and discussions will take place in earnest, once the Masterplan has been endorsed by the States.  The sites, and the design guidance, comprise Appendix 3

 

Housing

 

27.     The original Masterplan brief (March 2009) asked for 100 lifelong and sheltered homes. Overall, the developments proposed on States sites comprise approximately 300 homes of which 80 will be affordable homes – either Jersey Homebuy or social rented.  Open market housing will produce the value that makes the whole package financially viable.

 

Public Realm Improvements

 

28.     Public realm interventions proposed by the Masterplan can be summarised as follows:

 

§     Reinforcing and partially pedestrianising the main artery in the north town - Bath Street and David Place;

§     Locating public spaces on pedestrian routes to car parks;

§     Locating car parks below ground to free up space above ground for public realm and beneficial development;

§     Creating informal routes northwards for pedestrians and cyclists;

§     Considering the creation of additional routes north eastwards for residents and school children as part of future developments.

§     The particular needs of children in this area were highlighted during the consultation. Many of them live in apartments and bed-sits with no access to safe open space or private gardens. Family friendly local parks, gardens and squares, carefully planned throughout the area and linked by a safe pedestrian route, are therefore vitally important for this area.

 

29.     A safe pedestrian and cycle route which links Springfield stadium with Snow Hill is illustrated on the Masterplan.

 

KEY SITE PROPOSALS

 

30.     The following sites have specific proposals developed by the Masterplan:

 

Gas Place and Talman sites

 

31.     These sites together are suitable for a new town park, an underground car park (primarily residential and commuter parking), with some perimeter residential development as outlined within the Masterplan. Residential development is to be limited to a maximum of five storeys on the eastern side of the Gas Place car park, which will provide an appropriate edge to the town park, but will also provide future pedestrian access to the Jersey Gas Company site to the east, should it become available.

 

32.     Remediation of the site is likely to commence towards the end of 2010, and will be followed by laying-out the Town Park which should be completed during 2011.  However, remediation works cannot commence until a decision is made under proposition (a) above, as information relating to final lines and levels of the new park are required to inform the remediation works. 

 

33.     The proposed car parking provision is based on serving the residential properties above and also commuter and residents’ pay-parking to serve the wider area.  There is sufficient flexibility within the masterplan to increase the quantum of underground car parking, if it proves feasible.

 

Ann Court

 

34.     This site is suitable for residential development of four to five storeys, a new public square and underground parking for residents and shoppers to replace Minden Place car park.

 

Minden Place car park site

 

35.     This site is suitable for residential use on the upper floors, and retail and/or food and drink use on the ground floor. The development should be three to four storeys. A small public square is proposed as part of this development which will face south, fronting Minden Place. Parking for the residential properties will be provided below the site.

 

36.     The existing car park has a possible 10 years of life before it requires replacement and it currently provides a convenient, centrally located, shoppers’ car park.

 

37.     If Minden Place car park were retained, it would mean continued traffic congestion associated with the need to draw traffic right into the very centre of town through congested streets. However, by relocating the shoppers’ car park to Ann Court, this allows more direct access from the ring road, reducing the need for cars to enter the very centre of town.

 

38.     The following proposed environmental improvements then become possible:

 

§     Minden Place can become a narrower road with wider pavements and on-street disabled parking and a more pedestrian-friendly crossing at the Bath Street junction;

 

§     Bath Street and David Place can become one-way (heading north), allowing the enlargement of pavements and the substantial reduction of traffic volumes. This becomes feasible when the shoppers’ car park access is no longer from Bath Street.

 

Partial pedestrianisation of Bath Street / David Place

 

39.     By making Bath Street and David Place one-way for north bound traffic only, the pavements can be widened, trees introduced and shared-space principles adopted. Future consideration will be given to extending this approach to Stopford Road, Victoria Street and St Mark’s Road.

 

Bath Street to Halkett Place link

40.     A pedestrian route can be created that connects Bath Street with Halkett Place to provide a much needed east-west connection in this area. This link will require development of Le Masurier’s Bath Street and Odeon Cinema site, including properties to the west of the Nelson Street car park site.

 

Belmont Gardens

41.     This Parish-owned site currently used as the market trader’s car park is suitable for redevelopment as a small local park, providing around 2,500m² of public open space. This project can go ahead once parking provision for the market traders is made available in either Ann Court or the Town Park car parks.

 

Nelson Street Car Park

42.     Another parish-owned site, this area could continue as a shoppers’ car park, but could also be used to provide a further small park.

 

FINANCIAL CONSIDERATIONS

 

43.     The development of the Public sites, as proposed in the amended Masterplan, has been designed in such a way that the project is self-funding, to the extent that it shows a small profit when the contribution from the Car Park Trading Fund (£12m) and the £10m voted by the States in September 2009 is added into the equation.  ‘Best’ and ‘Worst’ assumptions have been made on development values and development costs.

 

44.     Appendix 4 to this report summarises the financial figures

 

45.     It should be recognised that if the Masterplan is not adopted, the £10m voted by the States will fund the remediation and completion of the Town Park (without buildings), but will not fund the replacement of lost parking either beneath the Town Park or on an alternative site.

 

CONCLUSION

 

46.     In conclusion, the development and improvements proposed in the Masterplan afford us the opportunity to pump-prime the regeneration of the northern part of central St Helier. Development by the States of public sites will substantially increase the quantity and quality of public space and resolve car parking issues in the area.  Repair and improvements to the area will encourage further development of privately-owned sites. Housing development, not just for social housing, will increase the population in the area which will benefit retailers and service providers in the northern part of the town centre and David Place.  Attractive and safe routes for pedestrians will permeate the area, and the proposals for bath Street and David Place will have a traffic-calming effect as well as restoring the grandeur of this principle artery.

 

 

Appendix 1

 

Consultants Brief

 
 

North of Town Masterplan

 

Appointment of Architectural Masterplanner

 

The Minister for Planning and Environment wishes to procure a three-dimensional masterplan for the northern part of St Helier, to enable the options for future development in the area to be visualised.

 

The commission will be based on visualising the existing land use strategy (St Helier Development and Regeneration Strategy – EDAW 2007) and any further updates provided by Officers, although the Minister requires the successful consultant to produce a second ‘free-thinking’ alternative strategy based on what emerges during work on the project.

 

The Minister intends to appoint an architectural masterplanner to undertake the work.  He is inviting a limited number of companies with a successful track-record of master-planning in existing urban environments, and with knowledge of St Helier, to submit tenders by 6 March 2009.

 

The tender must be expressed in daily or hourly rates and the number of days projected work for each team-member, for whom personal CVs shall be provided, and contain a practice CV showing evidence of previous master-planning work and the practice’s normal terms of engagement.

 

It is intended that interviews will be conducted in the week commencing 9 March 2009.  To ensure there is a local contact throughout the project and to pass on master-planning skills to the local architectural community, the selected consultant shall appoint a local architectural practice to assist them

 

Out of necessity, there is a very short timeframe for the work, which must be completed by 22 May 2009. To assist in meeting this timescale an internal advisory group of States Officers will conduct an initial briefing to the appointed consultants, and will be available through the duration of the project. This will comprise the Planning Department Architect, a Planner and a Transport and Technical Services Highways Engineer.

 

The project will be managed by the Planning and Environment Department

 

Tenderers will be supplied with a copy of the EDAW Land Use Strategy for the area.

 

Consultation

 

It will be necessary to consult with the property owners, stakeholders and other interested parties during the commission to confirm development aspirations.

 

There will probably be a need for public consultation on completion of the project, which will be treated as a separate commission.

 

‘Givens’

 

The Masterplan for the area must provide for:

§     Remediation of contamination of the former gas works site;

§     A town park on the site of the former gas works site

§     Commuter, residential (including overnight ‘white van’) and shopper parking facilities totalling no more than 800 spaces. A transport, traffic and car parking brief will be provided by Transport and Technical Services by 27th February;

§     Outline proposals for the identified potential development sites within the area of study, to include layout of the urban structure and grain, landscaping, uses, density and mix, mass, scale, height and appearance (details and materials);

§     Provision for lifelong and sheltered homes (min. 100 units of accommodation;

§     Provision of defined pedestrian and cycle routes through the area.

 

‘Possibilities’

 

§     A major community, cultural or heritage facility eg. a National Gallery;

§     New police HQ adjoining the St Saviour’s Rd;

§     Opportunities for States office accommodation.

 

‘Deliverables’

 

1.     The production of sufficient two and three-dimensional drawings to indicate the proposals (and the alternative proposal) and how they relate to their context and each other.

 

2.     Design briefs for the major potential development sites.

 

Written tenders shall be submitted by recorded delivery or courier, together with supporting information, no later than noon on Friday 6 March, to:

 

Andrew Scate

Chief Executive Officer

Planning and Environment Department

South Hill,

St Helier

Jersey

JE2 4US

 
 

Appendix 2

Amended Masterplan              

 
 
 

 

 
 
 

 

Appendix 3

 

Privately Owned Development Sites

There are numerous sites ripe for redevelopment in northern St Helier totalling around 220,000m². The masterplan makes specific recommendations for the following sites:

 

Former Le Masurier Warehouse

As a going concern, this site could retain its existing warehouse use. However, if this site was to be redeveloped, it would offer an alternative site for residents’ car parking or an opportunity for residential development. Future development should be contained within existing building heights.

 

Any development should include a pedestrian route linking the Salisbury Crescent site with the historic buildings on the wine warehouse site, through to the proposed town park on Gas Place.

 
 

Wine Warehouse

Redevelop existing historic structures suitable for small scale retail together with food and drink use.

 

Any new development should be sympathetic to the scale and materials of the existing historic structures and include provision for the proposed pedestrian route from Salisbury Crescent to the proposed town park.

 

Gas Holder site

This large site is suitable for development for residential or other purposes, should it become surplus to the Gas Company’s requirements

 

Any new buildings should be predominantly 4 storeys and could enclose further open amenity space and provide a pedestrian route to St Saviour’s Road. Any new development on this site should retain the existing listed buildings on St Saviour’s Road and ensure that they are set within an appropriate context.

 

The site must be fully remediated as part of the redevelopment.

 

Britannia Place site

This site could be developed as a new 3 storey residential scheme with the main facades presented towards the new park.

 

Consideration should be given to establishing design codes to guide future development for this project.

 

Any proposed development of the sites to the south of Robin Place should retain the existing historic buildings. In redeveloping this site, service access should be provided from Tunnell Street, and consideration be given to closing Robin Place and incorporating it within the public realm of the town park.

 

Le Masurier Bath Street and Odeon Cinema site

The development of these sites presents a significant opportunity to regenerate this part of the town.  The site should be developed with commercial uses on the ground floor, to include non vehicle trip generating, retail or food and drink use with residential on the upper floors to a maximum height of five floors in the core of the site.

 

Residential use here will help reduce the impact of cross-town traffic, which is a key component of the traffic strategy. Consideration should be given to retaining the existing historic buildings on Bath Street and the grain of new development should be sympathetic to the existing urban grain as detailed in the St Helier Urban Character Appraisal.

 

The development should provide improvements to the public realm in the form of public open space and pedestrian permeability and should be developed as part of an overall plan in conjunction with the Nelson Street car park site.

 

Nelson Street car park site

This site is suitable for residential use or possibly associated with the development of the Odeon Cinema.

 

Proposals for the development area must ensure that the front of the Old Fire Station building is set within an appropriate urban setting, with suitable public space in front and furthermore, a route is provided that connects Bath Street with Halkett Place to provide a much needed east west connection in this area. This link will require development of private land to the west of the car park site.

 

Former Jersey College for Girls

Proposals for residential apartments and town houses are already in preparation. The site now includes the rear section of the site, which was formerly occupied by Centre Point. This increases the total development area of the site by more than 60% to 3.4 acres and as such offers one of the largest residential regeneration opportunities in this part of St Helier.   Further development opportunities may become available on the Mont Cantel site currently occupied by Janvrin School

 

Le Bas Centre

This site could be considered for community use as a facility for the elderly or for residential purposes. If residential, due attention should be given to the air quality and noise issues associated with the proximity of the site to St Saviours Road.

 

Wesley Chapel

This site has permission for a mixed use redevelopment with a public square on Wesley Street. A proportion of any residential development will be required to be developed as affordable housing. The site could be developed in conjunction with the adjoining Le Coin site and warehouse.

 

Jersey Brewery site

The listed brewery buildings should be retained and the site developed for residential use, possibly with commercial development at ground floor. The existing historic building facing St Saviour’s should be retained and refurbished. The heights of any new buildings on Ann Street and Simon Place to reflect surrounding buildings, that is up to three storeys. Development could be considered of up to 5 storeys within the centre of the site.

 

Charles Street (South) sites – (Le Coin)

These sites should be developed as a 4 to 5 storey residential scheme.

 

Mayfair Hotel site

This site could be developed for residential accommodation. Any new development should address the air quality and noise issues associated with locating residential accommodation near a main, and heavily trafficked, road. The development should be of 3 storeys adjacent to St Saviour’s Road and Brooklyn Street, and up to 4 storeys on Ann Street.

 

Robin Hood Roundabout site (Springfield)

Subject to it being acceptable in traffic terms, consideration should be given to removing the Petite Rue Du Val Plaisant and incorporating the land into an improved soft landscape area to the Springfield Stadium. The roundabout site would be suitable for multi storey long stay parking or parking with residential use over. If residential use is considered, due attention should be given to the air quality and noise issues associated with the proximity of the site to the Springfield Road, perhaps by incorporating a set back with soft landscaping to the north of the site.

 

Masonic Temple Car Park site

The Masonic Temple car park site would be suitable for a 3 story residential development.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

Residents’ Parking

Public parking

Residential net f’space

Retail floorspace

Social rented units

Best £

Worst £<> 

 

Mid-point £

 

 

 

 

 

 

 

 

 

 

 

Gas Place

 

80

120

6460

0

80

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ann Court

 

115

285

10455

0

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Minden Place

 

25

10

1913

900

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Development Value

 

 

 

 

 

72,585,078

69,128,646

 

70,856,862

 

 

 

 

 

 

 

 

 

 

 

Gross Development Cost

 

 

 

 

-87,945,462

-97,513,081

 

-92,729,271

 

 

 

 

 

 

 

 

 

 

 

Net Profit/Loss on project

 

 

 

 

-15,360,384

-28,384,435

 

-21,872,409

 

 

 

 

 

 

 

 

 

 

 

Funding Streams

 

 

Car Park Trading Fund

 

12,000,000

12,000,000

 

 

 

 

 

 

States Voted Funds

 

10,000,000

10,000,000

 

 

 

 

 

 

 

 

 <> 

 <> 

 <> 

 <> 

 

 

 

 

 

 

 

 

6,639,616

-6,384,435

 

127,591

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 4

 

Financial Summary 


 

 

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