First tenant UBS AG sign up for the new International Finance Centre
A global bank with a large presence in Jersey will be the first tenant to move its business premises to the new International Finance Centre, Jersey
UBS has entered into an agreement to lease on part of IFC 1 - a 67,000 sq.ft. Grade A office building which will be located on the corner of the Esplanade and Castle Street.
Lee Henry of the Jersey Development Company (JDC) said: “We are absolutely delighted that UBS has selected the IFC for its future office accommodation. This is fantastic news for Jersey as it demonstrates long-term confidence in the Island as a leading financial services jurisdiction and importantly, it provides the necessary pre-let to begin the construction of IFC’s first building. JDC looks forward to delivering this highly modern and efficient office accommodation for UBS which will provide for the company’s future needs and operations.”
Tom Hill of UBS AG Jersey added: “UBS Jersey needs modern, efficient premises, located in the commercial centre of St Helier, for our business to continue to flourish, and we are delighted that this office building is available”.
UBS AG employs 200 staff and has operated in Jersey for over 30 years.
IFC will provide much-needed Grade A office accommodation in the new flagship office district. The buildings have been designed to maximise natural light and the column-free floorplates will provide complete flexibility for occupiers.
The development will also include extensive areas of new public open space. More than 50% of the existing site (the Esplanade surface car park) will be given back to the community to form a public square and public park for the enjoyment of all islanders.
Local contractor Camerons has been appointed to construct the building.
The office development at St. Helier’s Waterfront was approved by the States in 2008 and has been the subject of much discussion since that date. There has since been five States debates to rescind or postpone the 2008 States decision, all have been defeated.
JDC will be carrying out an agreed phased plan to develop the site building by building in response to demand. This arrangement is in accordance with the Company’s operating protocols and minimises risk.
There will be no loss of public car parking before, during or after construction of the IFC buildings. A new surface car park has been created to the south of the current Esplanade car park and is linked via an existing vehicular and pedestrian tunnel. A new underground public car park will be created on part of the site post development, providing the same number of on-site public car parking spaces.