The £150 million J1 scheme between Broad Street and Commercial Street has been approved and the 267,000 square foot building is likely to provide stiff competition to the States’ own plans to develop a new finance district at the Waterfront.
An eight-storey office block on the western end of the Esplanade has also been submitted by developers Dandara.
Developers C Le Masurier Ltd are chasing the same finance industry tenants that the Jersey Development Company are seeking for the Esplanade Square project, with the Royal Bank of Canada believed to be the number one target.
But the head of the Jersey Development Company, Lee Henry, says that their Esplanade Square plans were ‘probably on a par’ with the J1 scheme.
He said that the fact that the Le Masurier site is leased to tenants – in parts up until 2022 – means that they will not be able to deliver the whole scheme as quickly as the Esplanade Square.
