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Plans in for fourth finance centre office building

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JERSEY Development Company has lodged plans for the fourth office building within the International Finance Centre.

A view of the proposed IFC 2 building (centre) from the south/harbour side. Also shown are the proposed IFC 6 (left), Trenton Square, the original IFC 1 (centre-right) and IFC 5 (right) (26713444)

A detailed application has been received by the Planning Department for a seven-floor building providing 95,000 sq ft of office space, which would make it the largest of the four IFC buildings.

The proposed IFC 2 building would also include 5,000 sq ft of retail space on the ground floor and basement parking for 41 vehicles and 120 bicycles.

JDC managing director Lee Henry said that following initial discussions with prospective tenants, the planning application was the next step in the process.

‘Before we get into serious negotiation with prospective tenants, we need to be able to show that the building is deliverable, which is why the application has been made now,’ he said.

Mr Henry said that the intention was that, subject to planning approval, a contract would be signed with tenants so that construction could start in 2021.

Two of the IFC buildings are already occupied, with planning permission for the third – IFC 6 – granted in March 2017. Mr Henry said it was hoped an agreement would be reached with the anchor tenant for that building in 2020, at which point construction would start imminently.

The completion of the third and fourth IFC buildings would complete development around Trenton Square, which provides a central green space suitable for office workers to use on their lunch breaks. The square will increase in size by approximately 50% once work is complete.

Mr Henry said the newest building was intended to complement neighbouring units, but that each would be slightly different. The first three buildings each provide 68,000sq/ft of office space, while the proposed fourth building would be the tallest.

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‘IFC 2 will complete the quartet of environmentally sustainable office developments, all designed to achieve excellent environmental ratings and provide a world-class business hub to support the growth of Jersey’s strategically important financial and digital industries,’ he added.

The story so far

  • IFC 1: Completed March 2017. 68,000sq/ft across six floors. Sold November 2018 for £43.7 million.
  • IFC 5: Completed August 2018. 68,000sq/ft across six floors.
  • IFC 6: Planning permission obtained March 2017. 68,000sq/ft across five floors. Construction predicted to start in 2020.
  • IFC 2: Detailed planning application lodged December 2019. 95,000sq/ft across seven floors.

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