Campaigners aim to double turnout for second finance centre protest rally

The St Helier Waterfront Action Group, which led a demonstration against the development in June, has called on all Islanders to join them on Sunday 22 November to march in opposition to the controversial Esplanade project.

Former politician Sean Power, an outspoken critic of the project, said the group hoped to double the 2,000-strong turn-out for the previous protest which saw campaigners form a human chain around the Esplanade car park – the site of the Jersey Development Company’s flagship project on which work began this summer.

The scheme, which involves building six large offices, an underground car park and landscaped areas, has divided opinion, with many questioning exactly how much profit, if any, would be generated.

Towards the end of October the Treasury Department published a valuation by global property experts DTZ, which said that once completed, fully let and later sold, the JIFC could see £95 million returned to the public coffers.

However, a few weeks later the Corporate Services Scrutiny Panel released its interim report following another independent viability study, which auditors Ernst and Young had conducted.

The panel’s report, based on EY’s conclusion, said that the first building of the project would yield a ‘weak’ £3 million profit, and that the wider scheme would not generate enough money to pay for the underground car park and public areas and should be reviewed by the States.

Now, the action group are calling on Islanders to join them from 2 pm at the Esplanade on Sunday 22 November to march to the Royal Square.

Mr Power said that ‘middle Jersey’ was suffering following ‘swingeing’ cuts in the Medium Term Financial Plan and the Budget, and that they needed to join forces to call on the States to stop work on the finance centre.

He added: ‘These cuts, increased charges, proposed charges in sewage and health taxes plus the re-introduction of prescription charges are going to take too much money out of the local economy.

‘This is compounded by the recent revelations produced by Scrutiny in its evidence-based report by Ernst and Young that casts serious doubts on the viability of the whole Esplanade quarter project. So taxpayers’ money is being potentially wasted on a very risky project.

‘We call on every man, woman and child to join us for 90 minutes on 22 November, whatever the weather, to say to the Treasury Minister and the board of the States of Jersey Development Company: “Enough is enough. Stop this insane project or resign.”.’

Following Scrutiny’s interim report senior ministers responded by saying the panel had chosen parts of the EY report in order to draw a negative conclusion.

The JDC has continued to say that there is demand for new, modern office space and that public finances are protected because building work begins only once binding pre-let agreements that cover construction costs have been put in place.

See more pictures from the previous protest here

Mr Power said: ‘I think middle-income Jersey are the ones who are going to be largely affected if this thing comes crashing down around our ears.

‘We’re hoping to double the June protest numbers.

‘If it’s a howling, stinking gale it’s going to be a challenge, but this is every man and woman’s duty to turn out here because the only thing that is going to make a difference is people power.’

The march from the Esplanade will finish in the Royal Square with the whole demonstration due to last around 90 minutes.

Mr Power added that during the protest campaigners will chant, ‘Can you hear us and see us now? Stop ignoring us’.

6 – The number of office blocks proposed for the site
470,000 sq ft the amount of office space proposed by the completed finance centre project
20 – The number of prospective tenants supposedly in talks to move into the development
16,500 – The square footage to be taken by Swiss bank UBS, with the option of a further 7,000 sq ft
2,000 – The number of people who attended a demonstration against the project in June 2015
£95 million – The amount of profit the Treasury Department estimates the completed development could return to the States according to a valuation report by global property experts DTZ

Plans for Building 5 the second unit of the JIFC were approved by the Planning Applications Panel
That decision was subject to an appeal by rival developers C Le Masurier Ltd and is due to be reviewed by an independent planning inspector
Backbencher Deputy Montfort Tadier lodged a proposition calling for work on the first building of the scheme to be delayed until the outcomes of the Scrutiny review were known
Before that proposition was rejected by the States, campaigners formed a human chain around the Esplanade car park to show their opposition to the project
The JDC announced that Swiss finance firm UBS had agreed to lease around 25 per cent of the first building
Work began this summer after the JDC said that securing the first tenant meant the building costs were covered and they could proceed
Higher-than-expected levels of contamination were found at the site when excavations began
Towards the end of October, the Treasury Department published a valuation report by real-estate experts DTZ, who suggested the scheme could return £95 million much more than previously estimated
However, a few weeks later the Corporate Services Scrutiny Panel released its interim report following another independent viability study, which auditors Ernst and Young had conducted. The panels report, based on EYs conclusion, said that the first building of the project would yield a weak £3 million profit, and that the wider scheme would not generate enough money to pay for the underground car park and public areas and should be reviewed by the States.

Back in June around 2,000 Islanders protested against the International Finance Centre by creating a ring of defiance around the car park.

What Islanders at the protest said:

Stella Bailey

‘We need to protest that our elected States Members are spending our money on this. I am completely opposed to the finance centre. This is not the site for it and I am hopeful that today will make a difference.’

Bernie Copple

‘If we need all this office space, why was one large block left empty for almost 11 years on the other side of the Tunnel? There is no need for it and the States should not be funding it.’

Kathy Le Breton

‘I think it’s a vanity project that we do not need. I don’t think we need this amount of office space and we do need a car park. I also think it is wrong that the States are getting involved in something like this.’

Peter Clarke

‘It is a crying shame that they are putting up a concrete jungle here when we have plenty of office space. We don’t pay our money for them to gamble it away. It may not make much of a difference but we need to stand up and be counted.’

In June, dozens of protesters gathered in the Royal Square to voice their opposition to the controversial Jersey International Finance Centre.

Around 80 Islanders holding ‘No’ posters arrived in the Royal Square ahead of the States sitting where Members debated a proposition lodged by Deputy Montfort Tadier calling for the Assembly to agree to halt work on the JIFC until the results of a review by a Scrutiny panel are published.