Leale's Yard 'a £300m. boost to the economy'
A £300m. boost would be given to Guernsey and its economy through the Leale's Yard development, it has been calculated, as assurances were given over traffic, parking and the scale of the plans.
The planned development, which features 410 homes, a central plaza, as well as new retail and community facilities, is earmarked to cost some £100m. to turn into reality.
However, landowner Channel Islands Co-operative Society's CEO Colin Macleod believes the overall boost to the economy could be up to three times that, through the knock-on effect of the regeneration.
'The overall economic impact of this could be in the region of £300m. for Guernsey,' he said.
'This is a huge investment in this part of the island.'
Mr Macleod said the project would be a boost to the construction industry and would create jobs for the island, and the regeneration would feature community space, including a central plaza.
'Unlike a lot of developments we are really proud we are taking a community-focused approach to this,' he said. 'We hope the community will see that and be supportive.'
