TREASURY AND RESOURCES DEPARTMENT
Transfer of Normans Timber Yard Site from Jersey Property Holdings
to Housing Department
Minister for Treasury and Resources
Public
Purpose of Report
The Minister is asked to approve the transfer of the site known as Normans Timber Yard, St Helier (identified on the plan at Appendix 1) from Jersey Property Holdings (JPH) to Housing Department for future development as social and affordable housing.
Background
The site forms part of the land at the base of Fort Regent, running parallel to Hill Street. Access is only available through the existing Housing Clos du Fort Estate.
The site was initially identified as potentially suitable for residential development as part of the Fort Regent Regeneration Steering Group.
Following investigation in respect of rock face and ground conditions it appears that the site is capable of bearing a viable residential development.
An indicative feasibility study has indicated that the site may be capable of bearing in excess of 50 units subject to planning. Details at Appendix 2
Proposal
The site currently sits on JPH’s balance sheet as part of Fort Regent. It has no connectivity with the Fort and is not required in connection with any regeneration opportunities.
As housing site that can be developed by the Housing Department, it is appropriate that it be transferred to that department for development.
The proposed development will contribute to the States provision of affordable and social housing subject to planning.
Reason for Decision
The transfer reflects the appropriate accounting treatment for the property, based on the expectation that it will be developed by the Housing Department as social and affordable housing.
Resource Implications
The transfer between two entities within the States has no impact on either JPH’s or Housing’s near cash revenue account on transfer.
Recommendation
That the Minister approves the transfer of the Normans Timber Yard Site, St Helier, from JPH to the Housing Department.
Written By: (Assistant Director JPH)
Signature ………………………… 26 September 2013
Approved By: (Director JPH)
Signature ………………………… 26 September 2013