Omnibus Investment Holdings has been working on plans for the site owned by Channel Island’s Coop for several years, with the States agreeing to look at potentially investing £35m. in the bridge regeneration, which Leale’s Yard would have been a part of.
On Monday it was announced that P&R has not been able to reach suitable terms for investment in the site.
‘My first thought was “here we go again” I feel really quite sad and disappointed by this. It is a waste of land,’ said Maggie Sanders.
Another person who asked to remain anonymous said that something needs to be done with the land and that it needs to be redeveloped as affordable housing.
‘They want to think about building these houses. It’s been going on for years,’ they said.
The States said it remains focussed on improving the delivery of needed housing development and are continuing to invest resources in other projects and initiatives as part of the wider Bridge regeneration to support housing delivery in the Bridge main centre.
This includes enabling flood defences, a delivery framework to coordinate delivery of housing sites and the infrastructure between them, supporting the Guernsey Development Agency in realising its vision for the Bridge, including land reclamation and significant opportunities for housing development.
It also is looking at and approving the local planning brief for the St Sampson’s Harbour Action Area, which will allow significant development and regeneration potential to come forward.
Jeff Fox, partner at Ray & Scott, said that there are other priorities when it comes to the regeneration of the Bridge.
‘We’re going to get flood defences, and they are looking at Northside and Southside – other things are happening here,’ he said.
‘As a Bridge trader, looking at lighting is also important in redeveloping the Bridge. I am more enthused by the £35m. being used on these things. That would be the icing on the cake. The cake is strong, but we would like some icing on it.’
Mr Fox questioned whether it was right for taxpayers’ money to go towards developing the site owned by the Coop.
‘The Coop has had 20 years to do something with it. They can’t just wait for that money [from the States]. This now gives the private sector a chance to go for it.
‘My frustration is I came here 20 years ago and Leale’s Yard was on the cards then and nothing has happened. You can’t blame the States for that.’
He added that the regeneration of the Bridge should come before any developments.
‘You can’t build until you have flood defences,’ he said.
‘If I was a developer and I saw what was going on here I would want to invest in the area.’
Coop to update members next month
The Channel Islands Coop has said that it will update its members on any next steps at its annual members meeting next month.
In a statement on Monday, following the announcement by P&R, the Coop said they would not be making any comment about the news at this time, but will continue to work with Omnibus Investment Holdings, the development partner on the Leale’s Yard site, and provide an update at the meetings which will take place next month in Guernsey and Jersey.
‘The Channel Islands Coop note the announcement by the States of Guernsey Policy and Resources Committee earlier today about their withdrawal from discussions with Omnibus Investment Holdings Limited, the Development Partner, on the Leale’s Yard site,’ reads the statement.
‘The CI Coop was not directly involved in discussions between the Development Partner and the States of Guernsey.
‘As such, whilst we had followed these discussions and retain the ownership of the Leale’s Yard site, we have no comment to make on the announcement by the States of Guernsey.’
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