Le Masuriers will release its next phase of 63 apartments for its Merchants Square development on Bath Street on October 1st 2022 and only first-time buyers will be invited to secure their new home ahead of a full market release.
This £75 million regeneration development that began construction at the start of the pandemic is now nearing completion. It has created a real sense of excitement for potential homeowners and businesses in St Helier. In September 2020 all apartments for The Port House and The Pergola sold in under two weeks and for the second launch in March 2021 prospective buyers for Soave camped out and queued for 24 hours to secure their new apartment.
Leanne Kirkland, Maillard Co-Director said: “We were delighted that so many first-time buyers managed to secure premium apartments in the first two releases. A year on Merchants Square has approximately 1,500 registered applicants and there is still a deficit in the number of properties needed and a limited number of new build properties offering outside space, high-quality specifications and the option to purchase parking.
“Le Masuriers decision to offer this next release of apartments exclusively to first-time buyers, ahead of a full market release, will be positive news for Jersey residents looking to take their first step onto the property ladder.”
Brian McCarthy, Managing Director at Le Masurier explained: “We are acutely aware that first-time buyers have limited options with current stock in the housing market, so we want to give them an exclusive opportunity to get onto the property ladder ahead of a general release of this next phase of 63 apartments within Amarone.
“Le Masurier is a family business, and one of Jersey’s oldest, and we therefore want local families to have quality homes. That is why we are prioritising first-time buyers, then owner occupiers and finally investors, who will be limited to one apartment per investor.
“Merchants Square represents a significant investment in St Helier, helping with the much-needed regeneration of the north of town and boosting tourism and business. The impressive new residential units will help to meet the chronic housing demand that the Island has, and St Helier specifically”.
Deputy David Warr, Minister for Housing and Communities: “I am particularly pleased to see first-time buyers being given priority for these apartments. Government, the private sector, States-owned entities and all developers have a role to play in helping address the Island’s housing challenges, and it is great to see an historic local company playing their part in this way.”
The launch will take place at the Maillard & Co office on New Street in St Helier at 9am on Saturday October 1st