The ‘Esplanade Square’ development is based on 14 blocks in a grid system over the Esplanade car park and the six-lane road running from Gloucester Street to the south side of Liberty Wharf (the old abattoir site), which would be sunk below ground level.
The blocks, which would take seven to ten years to complete, would be between five and eight storeys tall and the development would include three public squares, two floors of underground car parking and a covered winter garden.
Under the plans, the project would include:
*621,700 sq ft of office space.
*400 flats.
*1,420 underground parking spaces.
*A 30-bedroom hotel.
*65 self-catering apartments.
The States will make between £50 million and £75 million out of the deal and Harcourt will pay to lower Route de la Libération at an estimated cost of £45 million.
An additional £10 million to £20 million could be given to the States if the market develops as expected.
It is estimated that road maintenance will cost the taxpayer half a million pounds per year after 2012.
Breakdown of the costs:
*Lighting the tunnel: £180,000 a year.
lMonthly night cleaning, fire ventilation, surface water and drainage and the purchase of CCTV: £250,000.
*24-hour surveillance of CCTV footage: £70,000.
Harcourt will pay for the maintenance of the three public squares and winter garden in the form of a service charge to all tenants.
