Groundworks get going for Waterfront development

Groundworks get going for Waterfront development

The Horizon development, next door to the Radisson Blu Hotel and Castle Quay apartments, is being built by the States-owned Jersey Development Company and French construction firm Groupe Legendre.

When the partnership was announced, the JDC said local companies had been ‘too busy’ to take on the project. According to the JDC, 83 per cent of the units in the Horizon East block and 47 per cent in Horizon South have already been secured by purchasers since being made available last year.

The remaining units in those blocks are currently being marketed, including via a JDC app that includes interactive tours, images and the latest apartment availability information.

First-time buyers are also being given the option of securing an apartment for £2,000 and then paying the balance of the ten per cent deposit in monthly instalments until completion in 2021. The west building, the final for the project, is due to launch in the spring and there is already a waiting list, according to the
developers.

Of those sold already, owner-occupiers make up 40 per cent, and of those 54 per cent are first-time buyers. Six per cent of the units bought by investors have been purchased by non-locals.

In total the development will include 280 apartments costing from £295,000, and will also include office, retail and restaurant units. It has been designed by Skidmore, Owings & Merrill LLP, who designed the Burj Khalifa in Dubai – the world’s tallest building. Groupe Legendre, meanwhile, has set up a company in Jersey and is using local sub-contractors. It is also paying taxes here while operating in the
Island.

Full story and more pictures in Homelife – free with Wednesday’s JEP


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