An article in the Guernsey Press on 22 December 2025 (‘Leale’s Yard housing many years away’) included misleading claims previously made by the States in connection with Omnibus’s offer to develop Leale’s Yard, and therefore risked furthering a wholly false impression of the actual progress that was made on that project before the States withdrew in 2025.
The article asserted that ‘the developers failed to obtain an adequate valuation of the scheme’. This is incorrect. Omnibus provided independent professional advice on valuation from Savills, and prior to that from Avison Young. Both of which are established commercial agents of repute. Omnibus had submitted a fully costed traditional light gauge steel frame design to RIBA Stage 2, for the States own independent valuer’s assessment. Omnibus had secured both a Development Framework Consent and Outline Planning Permission from the Development & Planning Authority for its scheme.
The article asserted that ‘the developers failed to … provide essential legal information’. This, too, is inaccurate. Omnibus was legally advised by Carey Olsen, who provided all relevant documentation regarding title and heads of terms. The States was advised by Collas Crill, and draft heads of terms were exchanged in a timely and professional manner between both sets of legal advisers.
The article also asserted that ‘the developers failed to … provide essential commercial information’. Omnibus’s bankers met with representatives of the Policy & Resources Committee, at which time they expressed their full commercial support for Omnibus and confirmed financial backing for the proposed development, business plan and associated valuations.
Omnibus had offered to buy the Leale’s Yard site for £4m. and to proceed with the development without the States pre-purchase of 90 homes, but was outbid by the States, who paid the CI Coop £4.5m. for the site.
Had the States accepted Omnibus’s offer, as intended in early 2025, demolition would already have taken place, with infrastructure and building works well under way – predominantly funded through private rather than public investment.
The key points to note about Omnibus’s proposal were:
Quick start – it was all planning-approved and ready to go. The completed States units would have been handed over in 2027.
Clearly defined States involvement, requiring the States to buy 90 homes at an average fixed cost of £378,000 for one- and two-bed apartments. No further public funds were required.
The proposal from Omnibus to the States was that the States purchase 90 completed homes for the sum of £34m. These were one- and two-bedded homes with associated infrastructure and parking. Omnibus questions whether the States will be able to build for themselves at a cost that is anywhere near the offer made by Omnibus. We will likely never know the answer to that question. By whatever means you wish to judge, either market value or cost of procurement, the offer made by Omnibus was a good one.
In total Omnibus offered to build 320 homes at Leale’s Yard.
All the residential units being offered were privately funded.
However, instead of engaging with the certainty of Omnibus’s offer, the States has undertaken to do this itself, funded by the public purse.
Omnibus has never been given a satisfactory explanation as to why its offer was rejected.
In your article, the president of P&R described Leale’s Yard as a ‘super priority’ while acknowledging that ‘no significant number of completed houses will be ready for occupation until 2029’. These two statements do not reconcile.
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