The race is on to build top-quality offices in St Helier, with the finance industry needing around 300,000 square feet over the next five years.

But with three major plans at various stages of development – the Esplanade Square, the J1 scheme in Broad Street and Lord Coutanche House on The Esplanade – there is about 721,000 square feet worth of offices in the pipeline.

Chris Daniels, the chairman of BNP Paribas Real Estate Jersey, says that major institutions like banks, trust companies, fund administrators and law firms want top-quality offices.