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The new home of one of Jersey’s largest fund and corporate services providers is taking shape at the Waterfront.
When completed at the end of next November, ‘IFC6’ will become the home of Aztec Group, a Jersey-headquartered business founded in the island in 2001 which now employs around 500 people locally and more than 1,400 globally.
Its new home will be a five-storey, 68,000-sq-ft building which will have private underground parking for 51 cars.
The block is going up alongside ‘IFC5’, which sits on the roundabout above the underpass. Following excavation and piling, its basement slab and walls have been built.
Its central concrete lift core has recently been constructed and work on the steel framework has begun.
Pictured: An artist's impression of the completed IFC6 (Credit: JDC).
Lee Henry, the Chief Executive of the taxpayer-owned Jersey Development Company, which is building the International Finance Centre, said: “By the end of the year, the superstructure and most of the unitised façade will be completed, which will be a good halfway through the build.
“The façade will be finished in the new year, and the rest of the 2023 will involve the interior fitout, ready for handover to Aztec at the end of next year.”
He added: “The pre-let covers 72% of the building and we are currently in negotiations to let further space, and our expectation is that the office element will be fully let before completion.
“The development also includes a ground-floor restaurant, and we will start marketing that once the superstructure is up, and operators can fully appreciate the space and how it could work for them.”
IFC6 will have floor-to-ceiling windows, column-free floors and overlook an extended ‘Trenton Square’ between the three IFC blocks already built or under construction.
The first, ‘IFC1’ on the corner of Castle Street and the Espanade, and is fully let and was sold to Klesch Family Office for £43.7m in 2018, providing a £10.9m net return for JDC.
Pictured: How the office will look from across Route de la Liberation. (Credit: JDC).
The second, ‘IFC5’, is 98% let with a 3,000 sq-ft ground-unit still unoccupied. That building was sold a year later for £47.6m to a local resident and property investor, generating a £10.6m net return.
IFC6 will be retained by JDC on completion.
Another building, ‘IFC2’, has planning consent and is awaiting a pre-let. West of IFC1 and north of IFC6, it will be the largest of the four building, with seven stories and 100,000 sq-ft of office space.
Plans for other buildings to the west, ‘IFC3’ and ‘IFC4’ are waiting to be progressed if and when demand is sufficient.
Mr Henry said: “We are seeing the vast majority of on-island businesses looking to retain an office presence, still looking at hybrid-working models but with an office very much being available.
“They are also looking at the quality and environment office space from a staff wellbeing perspective.”
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