Committee president Deputy Terry Le Main promised to maximise the value of La Falaise, overlooking Fliquet Bay.
If the sale raised more than was required to bring 16 flats in Clos de Quennevais up to scratch, Housing would give the rest back to the States.
‘I give an assurance that any funds left over will be returned to the treasury,’ he said.
However, he warned Members who criticised Housing for ‘selling off the family silver’ that the sale of La Falaise would be followed by many more if the States were to realise best value for the £700m social housing portfolio.
‘There is no question that we shall have to sell of many hundreds of properties,’ he said.
Members supported Housing’s proposals by 36 votes to three, having previously rejected an amendment from St Martin Deputy Bob Hill by 37 votes to two to use the expected £500,000 sale to finance the initial implementation of third-party planning appeals.
