A total of 70 per cent of the building is now let with a further 20 per cent currently in the process of being signed off to tenants by lawyers.
Treasury Minister Alan Maclean said that once 90 per cent is let – which is expected by the end of the year – the States of Jersey Development Company would look to sell the building.
The minister also revealed that the company, which is owned by the public, rejected a ‘very attractive offer’ earlier this year for the building as it was thought it would be more valuable once the building was almost fully let.
The project has courted controversy since plans were unveiled in 2006, with some Islanders criticising the proposed design, the number of pre-let agreements that had been signed and the use of the Waterfront for office buildings.
Speaking during a Corporate Services Scrutiny Panel meeting, Senator Maclean said: ‘The development is going extremely well. The vast majority of the building [building one] is anticipated to have been let by the end of this year.
‘There was an approach by an investor who was keen to buy the building. The board took the decision not to progress on what was a very attractive offer.’
The JEP asked for the value of the original bid and the current sale price for the building but the JDC declined to comment.
So far five companies – Sanne, UBS, BNP, Laing O’Rourke and ED Capital – have taken space within the finance centre.
The first building, which UBS and BNP have moved into, was completed earlier this year and officially opened in April.
Sanne has agreed to move into the second building, which is currently under construction.
Planning permission for the third building of the proposed six-building project has already been granted and construction work will begin on that once enough pre-let agreements are signed.
