Waterfront is used as security on finance centre loan

And a Scrutiny Panel has claimed that the move – signed off in a ministerial decision by Assistant Treasury Minister John Refault – has effectively ruled out the area as an alternative site for Jersey’s new hospital.

During a Corporate Services Scrutiny Panel hearing yesterday, it was revealed that the site, which covers an area of undeveloped land near the Radisson Hotel, is being used by the Jersey Development Company to secure funds for Building 5, the second block to be built on the site.

The security also includes a plot on the Esplanade which has been earmarked for Building 3 of the finance centre development.

Read the full story in Tuesday’s JEP.

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