States plans to buy new homes at Leale’s Yard

Policy & Resources confirmed yesterday that it is planning to ask the States to back its plans to buy a first tranche of homes built at Leale’s Yard, and at the same time kick-start the long-awaited project and potentially a broader regeneration of the Bridge.

‘The committee wants to do all it reasonably can to support this troubled site to deliver its potential, and given its history, this seems very unlikely without some upfront investment, which includes support for critical infrastructure like flood defences,’ said P&R president Peter Ferbrache.

P&R will need the support of the full States to move ahead, with a report and spending estimate due in November for a December debate.

But it was notable that the committee appeared to have side-stepped any involvement with the Guernsey Housing Association.

‘Housing supply and affordability is the most critical issue for the island and the States will want to secure as many homes as they can reasonably afford, given the pressures on social housing, partial ownership and key worker provision,’ Deputy Ferbrache said.

The most recent application for the site saw outline permission granted for more than 300 homes.

The committee will justify the move in that it will create an immediate income stream in rent.

Deputy Ferbrache said that a development framework in place, planning approvals granted, and a contractor lined up, would mean that construction could start much earlier than on other projects where the States has bought land but without plans or permission, including Kenilworth Vinery, which backs on to Leale’s Yard.

He said there was ‘a realistic chance’ of bringing these homes to market during the political term to June 2025.

‘The committee is currently in sensitive commercial negotiations to support this work,’ he added.

‘It is very early in the discussions, which remain subject to due diligence and achieving an acceptable financial arrangement, however the tenure of properties secured will be mixed, and very likely to include key worker accommodation that will again achieve a financial return for the States. The committee remains steadfastly of the view that it must explore every possible route to increase housing supply and affordability, and especially the availability of key worker homes given the exorbitant cost of agency staff in the health and care sector.

‘It will continue to do so, but always mindful of securing the best value possible.’

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