Maillards Estates reported that prospective buyers queued from 4.30am on Saturday 26th September to ensure they secured the apartments they wanted as the first release of Merchants Square went on sale. Details of two of the five areas within the development, The Port House and The Pergola, were made public at the launch event hosted by sole selling agent, Maillards Estates. 80% of the 26 one and two-bedroom apartments were sold ‘off plan’, indicating immense confidence in the local property market, with significant demand coming from first-time buyers.
Leanne Kirkland, Maillard’s Estates new homes sales manager, said: “We were overwhelmed by the number of people who came to our open weekend and who have bought one of the Merchants Square apartments off plan. It clearly shows the need for new housing in Jersey because nine of the initial sales have been to first time buyers.”
Brian McCarthy, Managing Director, Le Masurier, said: “We are delighted for all of the purchasers who have secured apartments at Merchants Square in the first phase release. The demand demonstrates the critical need for first-time buyer homes on the island and I am delighted we are providing these. The feedback has been exceptional and people have told us how pleased they are to see such a high quality development for St Helier.”
“Fine wine has been part of the Le Masurier story for nearly 200 years. This is the inspiration for each of the names of the five areas of the new development on Bath Street. Brian McCarthy continued: “It is important to us that Merchants Square reflects our history, so we have carefully chosen a unique name, design and colour scheme for each of the five areas of the development that celebrate our love of red, white and port wines. From the concept stage of this development, our designers were tasked with creating something special. We are proud to have released The Port House and The Pergola this Autumn and we will announce the next release in Spring 2021.”
Le Masurier hopes that this £70 million development will bring a new lease of life to the north of St Helier with its access to convenient, contemporary living.