Collas Crill has advised Le Masurier on its £70 million Bath Street redevelopment project, which will house the island's second Premier Inn.
Partner, Pamela Doherty, leads the team who act for developer, Le Masurier; one of Jersey’s largest property companies with substantial real estate investments on island and in the UK and Europe. The Collas Crill team advised on all aspects of the project including advice on the development structure, lease agreement, funding, planning and construction.
As well as Jersey's second Premier Inn hotel, the site with hold circa 144 residential apartments, commercial units and car parking. Additional green space and a new public pedestrianised route from the Millennium Town Park to the Library will also feature.
In February, Camerons, who is the main building contractor for Le Masurier begun working on the site; marking a notable milestone for the project, and a big step towards the regeneration of over two acres of central St Helier. The £70m investment by Le Masurier will now start to take shape, with the removal of the existing buildings; demolition of certain structures has already begun.
Le Masurier will launch the residential apartments for sale later in the year; a portal for registering expressions of interest will become available to interested buyers soon.
Brian McCarthy, Managing Director of Le Masurier commented: 'We have been working to regenerate and breathe new life into this area for over 10 years. It is a testament to the team and all those who have supported this redevelopment that we will now see this project come to fruition.
'I'm pleased Collas Crill was able to assist with the securing of this project.'
Pamela said: 'The development of much needed housing and a second Premier Inn signifies positive movement for Jersey's economy; albeit the results may now be slightly delayed due to the ongoing situation and the impact on travel, but this will give the island's community and tourism industry a significant boost for the future.'
Collas Crill's Jersey Property team are ranked within the top tiers of the 2019 legal directories. See more about the team here.