Pierre Horsfall believes that as development continues in the future, the value of the Cineworld site will increase to such a level that the States will make more money from the land by allowing it to be redeveloped.
He says that the current buildings may not last long as the plots around it are developed to a higher standard than those which have already been built.
Mr Horsfall’s term of office ended on Sunday in controversial circumstances.
The former Policy and Resources president had wanted to continue in the role he had held for three years but was told by the Council of Ministers that his services were no longer required.
Behind closed doors the States appointed former Deputy Gerald Voisin in his place to run WEB until it is replaced by a new company with overall responsibility for selling, leasing and developing States property.
