States to sell off £40m of property?

States to sell off £40m of property?

The committee has identified part of their £700 million portfolio that they say is not suitable for social rented housing, and which they want to sell to buy more appropriate properties.

Committee president Deputy Terry Le Main said this could solve all of the Island’s housing problems within ten years.His comments come after an attempt to sell a two-bedroom house in St Catherine was defeated by one vote in the States on Tuesday.

The committee wanted to sell Amy’s House for £275,000 and keep the money to put towards other accommodation, specifically to buy housing for problem tenants who disrupt life on housing estates for their neighbours.Housing have no capital funding secured for the next five years and say they will not build on any more sites or subsidise any new developments.

Deputy Le Main said he would eventually like to see Housing corporatised – like Jersey Telecom – and owned by the States but run independently and without funding.’We have identified around £40 million worth of property that we would like to bring to the States to be sold so that we can reduce our stock and get more beneficial use of refurbishing existing stock and providing more new homes.

There are too many properties that do not fit into the current portfolio,’ said the Deputy.

– Advertisement –
– Advertisement –