Old school deal for first time buyers

Thursday 16 June 2016

Islanders can go back to an old school to get a step up on the property ladder.

College Gardens on the site of the former Jersey College for Girls at La Pouquelaye will be home to dozens of first time buyer homes as well as rental accommodation for the over 55's.

Work is due to start on the big 187 unit development later this year which will include 40 one-bedroom affordable homes, giving eligible first-time buyers the chance to buy one at 80% of the market value while the remaining 20% discount is held in a bond by the States.

Deputy Pryke said: “I am delighted to see the release of shared equity homes at College Gardens. There are many islanders who want to enjoy the security of being able to own their home, and this scheme will help them do just that.”   

"This development will help meet the island’s affordable housing needs, delivering affordable homes for rent and sale, which is a key priority of the Housing Strategy. The regeneration of this site will also contribute towards our vision for the future of St Helier, creating a strong and vibrant community in this area of town.” 

Anyone wanting one needs to be a residentially qualified first-time buyer, with a maximum annual income of £41,000.

Jersey Development Company’s Managing Director Lee Henry said: “We’re obviously delighted to be regenerating this much-loved site. 40 of the 187 new units of accommodation will be shared equity, affordable homes for locally qualified islanders.

“The new College Gardens community will benefit from extensive private gardens, a new pétanque terrain, gym and reading areas. Preliminary work has already commenced on the site, construction will begin later this year and completion is due in phases between February 2018 and February 2019.”

40 affordable social rental units for the over 55's will also be built as part of the development.

You can apply here if you are interested in buying one.