There’s a secret world in which the States’ owned property is being sold off, and all the reports talk of “Financial Implications” which are not disclosed, supposedly (or so I was told when I asked - and Senator Sarah Ferguson was also fobbed off with this reply) because they are "commercially sensitive". I suspect they would certainly be politically sensitive
Furthermore, we are told that “When the transaction is concluded the fixed asset register and States balance sheet will be amended to account for the transaction.” But this transaction will be one of many, and the balance sheet will fail to show the granular detail of each transaction.
At least when Jersey College for Girls was initially up for sale, the price on offer (which was derisory) was available, but here are no details whatsoever, apart from these reports which are buried away, and unavailable for the public to view. All we get is the “teaser” that the financial implications are detailed; we don’t get the report.
Here are a few recent transactions like this:
9 Chevalier Road, St. Helier: Sale
A decision made 9 September 2014:
To sell 9 Chevalier Road, St. Helier, following a process of marketing of the site, with each party to meet their own costs in passing contract. The financial implications of this decision are detailed in the report accompanying MD-PH-2014-0148 and updated in the accompanying report.
Subject: Timaru, Devonshire Lane, St. Helier – sale of share
A decision made 9 September 2014:
With reference to the previous decision MD-PH-2014-0150 plus associated documentation and the expiry of 15 working days’ notice to the States of that decision, the Minister approved, as recommended by Jersey Property Holdings, the sale of the Public’s one-third undivided share in the property “Timaru”, Devonshire Lane, St. Helier. The financial implications of this decision are detailed in the report accompanying MD-PH-2014-0150.
Chez Marguerite, 3 Elizabeth Place, St. Helier – sale
Sell Chez Marguerite, 3 Elizabeth Place, St Helier to the preferred purchaser following the offer recently received in connection with the marketing of the site, with each party to meet their own costs in passing contract. The financial implications of this decision are detailed in the accompanying report.
La Preference Children's Home, La Grande Route de St. Martin, St. Martin: Sale
A decision made 18 June 2014:
The financial implications of this decision are detailed in the report accompanying
MD-PH-2014-0085
Old Mill House, 52 Le Vier Mont, St. Helier: Sale
A decision made 18 June 2014:
The financial implications of this decision are detailed in the report accompanying MD-PH-2014-0084
Looking back over the year, there have been quite a few of these transactions taking place. They seem to have slipped under the radar, without any debate on whether or not these properties should have been sold or not. The only one to have hit the headlines was the old house in the Royal Square, and that was the only one debated from a backbench proposition by Deputy John Young.
Now in all these cases, these sales are notified to the States, and the form of wording states:
The transaction was notified to the States in a report dated xx and at the end of the 15 day period required no comments on the transaction had been received. The Minister therefore decided to conclude the transaction.
But they do come with a whole list of different items, including leases, so it is perhaps not so surprising that they do not get flagged up. Perhaps States members should be more vigilant, for while each transaction is only a trickle, by the time you look at a year, there is certainly a goodly sized stream carrying away States owned property in its flow.
So just what is going on here? How many transactions are just rubber stamped, and States assets sold off? Is this a means of balancing the budget, a short term quick fix to get extra funds? And when all of them have gone, what will then be done to balance the budget? How much family silver will we have left at the end of the decade?
Subject: Timaru, Devonshire Lane, St. Helier – sale of share
A decision made 9 September 2014:
With reference to the previous decision MD-PH-2014-0150 plus associated documentation and the expiry of 15 working days’ notice to the States of that decision, the Minister approved, as recommended by Jersey Property Holdings, the sale of the Public’s one-third undivided share in the property “Timaru”, Devonshire Lane, St. Helier. The financial implications of this decision are detailed in the report accompanying MD-PH-2014-0150.
Chez Marguerite, 3 Elizabeth Place, St. Helier – sale
Sell Chez Marguerite, 3 Elizabeth Place, St Helier to the preferred purchaser following the offer recently received in connection with the marketing of the site, with each party to meet their own costs in passing contract. The financial implications of this decision are detailed in the accompanying report.
La Preference Children's Home, La Grande Route de St. Martin, St. Martin: Sale
A decision made 18 June 2014:
The financial implications of this decision are detailed in the report accompanying
MD-PH-2014-0085
Old Mill House, 52 Le Vier Mont, St. Helier: Sale
A decision made 18 June 2014:
The financial implications of this decision are detailed in the report accompanying MD-PH-2014-0084
Looking back over the year, there have been quite a few of these transactions taking place. They seem to have slipped under the radar, without any debate on whether or not these properties should have been sold or not. The only one to have hit the headlines was the old house in the Royal Square, and that was the only one debated from a backbench proposition by Deputy John Young.
Now in all these cases, these sales are notified to the States, and the form of wording states:
The transaction was notified to the States in a report dated xx and at the end of the 15 day period required no comments on the transaction had been received. The Minister therefore decided to conclude the transaction.
But they do come with a whole list of different items, including leases, so it is perhaps not so surprising that they do not get flagged up. Perhaps States members should be more vigilant, for while each transaction is only a trickle, by the time you look at a year, there is certainly a goodly sized stream carrying away States owned property in its flow.
So just what is going on here? How many transactions are just rubber stamped, and States assets sold off? Is this a means of balancing the budget, a short term quick fix to get extra funds? And when all of them have gone, what will then be done to balance the budget? How much family silver will we have left at the end of the decade?
As most of these transactions take place signed off using delegated powers by the Assistant Treasury Minister, Eddie Noel, perhaps he might care to explain. Or perhaps the Treasury Minister himself could answer?
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