First Finance Centre building is officially opened

The office block, known as Building 1, is 60 per cent occupied and an offer is on the table for a further ten per cent.

Lee Henry, the managing director of the Jersey Development Company, the States-owned entity behind the project, said that the JDC was in early discussions with an interested party over the remaining 30 per cent.

A total of six buildings will eventually make up the development.

Work on the second office block on the site, IFC 5, is already under way with a 50 per cent pre-let agreement in place. Plans for the third building have been approved.

Today Mr Henry confirmed that the Finance Centre may not always be in public ownership.

‘Our anticipation is that these buildings will be sold,’ he said.

‘But that will ultimately be for the shareholder – the Treasury Minister – to decide.

‘The International Finance Centre could be seen as a valuable long-term investment by, for example, large pension companies.

‘Before that happens, however, we would be looking to have the buildings 100 per cent let. My expectation is that if a sale happened, they would be sold separately,’ he added.

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