BBC Jersey confuse fact with fiction!

Jersey Development Company (JDC) must correct the inaccurate reporting by BBC Jersey in the recent planning application to extend the period of permit P2013/0993 for Building 1 (now known as IFC 4) of the International Finance Centre.

JDC Managing Director Lee Henry recently wrote to the Planning Department to request an extension of its planning permit for Building 1/IFC 4. Mr Henry stated: ‘ Given the likely significant changes in design terms to the proposals for the Esplanade Quarter, JDC believes that it would not be appropriate to progress the development of the above site (Building 1/IFC 4) at this time.’

Incredibly, on the back of this straightforward application and a Facebook post by the Jersey Action Group (arch critics of the IFC), the BBC reported that the whole IFC development was now on hold!

This could not be further from the truth. Time after time JDC has had to correct the misinformation disseminated by the Jersey Action Group which is then often followed by misreporting in the local media, particularly BBC Jersey.

In 2014, as a result of JDC not securing a major tenant for the then first building on the IFC (Building 1 now known as IFC 4), JDC re-phased the delivery of the IFC so as not to “book-end” the development but to develop out the site in a logical order – starting from the east and moving west.

This has resulted in IFC 1 and IFC 5 being completed and planning permission secured on IFC 6, which is the building to the west of IFC 5. 

IFC 4 is the most westerly building and is currently planned to be the final office building in the IFC development. The letter to the Planning Department regarding the extension to IFC 4’s planning permit is part of helpful cooperation between JDC and Planning who are currently doing a review of the Esplanade Quarter Masterplan that is likely to produce significant changes in design terms to the proposals for the area, JDC does not believe it would be appropriate to progress the development of IFC 4 until the new Esplanade Quarter Masterplan has been agreed.

JDC would like to reassure prospective tenants that the rest of the IFC development is proceeding as planned and JDC hopes to start construction on IFC 6 later this year.  JDC has also commenced the design of IFC 2 that will sit alongside IFC 1 and will be the fourth building.

JDC would also like to reassure Islanders that it will not commence any IFC development without  significant legally binding pre-lets in place. Current interest in the IFC remains strong and the pipeline of demand from businesses wanting to locate to modern Grade A office buildings in order to operate effectively and efficiently shows no signs of slowing down.

JDC has proven with the successful completion, letting and sale of IFC 1 and the completion, letting and imminent sale of IFC 5 that it has the necessary skills to deliver a healthy financial return which, as a 100% States owned company, is for the ultimate benefit of the States and people of Jersey. 

TAGS: IFC Jersey