Minister says new office space 'vital' for island

The planning minister and a commercial estate agent have insisted there is a need for new offices in Jersey, despite concerns from a campaign group.

D2 Real Estate (D2RE) director Chris Daniels said demand was "outweighing supply".

Having approved a seven-storey office block at 19-21 Esplanade, the Planning Minister Senator Sir Mark Boleat said developers would never build offices unless they could attract tenants and said new spaces were "vital".

Campaigner Judith Quérée questioned whether there was still as much demand as artificial intelligence was adopted more in the workplace and people worked remotely.

A review by D2RE found that 5% of office space is vacant overall, and 1.5% of "prime office accommodation".

Daniels said: "There's a lack of supply of new space coming through that's the quality most modern occupiers want to use."

He said companies want the best possible space to attract staff, including good natural light and meeting spaces.

He added Jersey's short commutes made it more attractive to work in the office, and said AI could "not form long-term client relationships".

Boleat said: "We do need top quality office accommodation if our financial services industry is going to be as competitive as we want it to be, and that's vital for the whole island."

Two in five local jobs are in the finance industry, and it generates £6 in every £10 of tax revenue.

There is office space to let near the 19-21 Esplanade development, including further along the Esplanade and on Commercial Street.

A fourth building in the nearby International Finance Centre remains on hold, as the Jersey Development Company searches for tenants.

It said it remained focused on that, and it had seen "an increase in inquiries for new, modern office space" this year.

The CEO of Jersey Finance, Joe Moynihan, said: "The demand is not just for new businesses coming in.

"I think there's also demand for existing businesses that want better quality accommodation for their own staff and their clients."

Quérée's group Passion for Jersey looks at planning applications, and aims to improve the island's landscape.

She said: "St Helier, to a large extent, has now become full of very tall buildings, which are not always that beautiful," she said.

"I know it's progress, but I think we've still got to try and cling on to [Jersey's character]."

Quérée said a big concern was that a listed Victorian townhouse would be demolished in the 19-21 Esplanade scheme.

The government's Historic Environment Team also objected to that.

Boleat said it was nearly derelict, and that "the planning system has to balance the different interests".

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