The field, nearly four acres in size, situated between the road and La Vrangue, was put on the market in January 2025 for £4.95m. but was last month sold for just £1.25m.
A preliminary layout plan had been drawn up for 72 units on the field, which at its original asking price would have worked out at some £70,000 per plot.
But there is still no planning permission for the area’s development.
A group of neighbours formed the Pitronnerie Protection Group in order to oppose any development, although as yet no formal plans appear to have been submitted.
Group member Jamie Baker said 17 residents sent in objections to any housing being built.
‘I think they probably won’t listen to us, anyway,’ he said.
Work has also been done on a traffic survey in the area.
‘They talk about this survey but they did it in the school holidays.’
He was surprised that the land had sold for so little compared to its asking price.
Mr Baker said that residents remained concerned about the impact of additional housing in the area.
‘There’s going to be a lot of traffic around here and I think there’s going to be a lot of flooding,’ he said.
‘We’re just going to have to keep an eye on things.’
Six architectural firms came together earlier this year to collaborate on a ‘housing masterplan’ for another site at La Vrangue which could include up to 500 new homes.
This was covering a 12-acre site that included the old tobacco factory, Balmoral Vinery, the Guernsey Institute’s Coutanchez site, and part of La Vrangue Manor.
It was hoped that the plan would be ready to be sent to planners later this year.
A nearby site on the Pitronnerie Road industrial estate, formerly occupied by SGB before it closed in March, has also been sold for £1.23m.
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