Jersey Int’l Finance Centre set to be fully let by year end

The Jersey International Finance Centre is expected to be fully let by the end of the year.

The Island’s flagship financial services and business centre is nearing capacity according to the centre’s manager the Jersey Development Company (JDC), that revealed that two new tenants were recently signed up.

Finance company ED Capital – moving from their Commercial Street offices and international engineering firm Laing O’Rourke, with a new Jersey base, have agreed to take ten per cent of the first finance centre building.

This takes the total floorspace let so far to 70%, with two more firms in talks, according to the JDC.

So far three other companies – Sanne, UBS and BNP – have taken space within the finance centre.

The first building, which UBS and BNP agreed to move into, was completed earlier this year and officially opened in April, while Sanne have agreed to move into the second building, which is currently under construction.

Second building

JDC chairman Nicola Palios has previously said that negotiations were ongoing with a prospective new tenant for the second building which, if finalised, would almost completely fill the building.

Planning permission for the third building of the proposed six-building project has already been granted and construction work will begin on that once enough pre-let agreements for that building are signed, JDC said.

A JDC spokesman told local news outlet The Jersey Evening Post that it is in “detailed negotiation” with two further parties that would take the let position in International Finance Centre One to nearly 90 per cent.

‘There remains strong demand for high quality office space and JDC anticipates IFC 1 being fully let by the end of the year,” the spokesperson said.

ABOUT THE AUTHOR
Gary Robinson
Deputy Editor, International Investment and Head of Video at Open Door Media Publishing. A fully qualified journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as an IFA.

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