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ESTATE OF E.M. BAILHACHE: SALE OF 78 NEW STREET, ST. HELIER _______________
Lodged au Greffe on 8th February 2000 by the Health and Social Services Committee
______________________________
STATES OF JERSEY
STATES GREFFE
180 2 0 0 0 P . 1 3
Price code: A
PROPOSITION
THE STATES are asked to decide whether they are of opinion -
(a ) to approve the sale by the public to Shafique Limited, owned by Mr. and Mrs. Mohammed Shafique Azam,
of the property, 78 New Street, St. Helier, as shown on Drawing No. 637/1 for a consideration of£180,000, subject only to contract and subject to each party being responsible for its own legal fees;
(b ) to authorise the Attorney General and the Greffier of the States to pass the necessary contracts on behalf of
the public.
HEALTH AND SOCIAL SERVICES COMMITTEE
Note: T he Finance and Economics Committee approves the sale of the property. However, before it is able to agree to the
use of the sale proceeds for the acquisition of future property, the Health and Social Services Committee must be satisfied that the best possible financial return is being gained from the investment and that this return accrues to the estate of Mrs. E.J. Bailhache .
Report
By her last Will and Testament of real or immovable estate, dated 20th September 1974, the late Mrs. Eunice Jane Bailhache , née Aubert, devised part of her real and immovable estate to the public of the Island, upon the condition that the same should be administered for the benefit of the Public Health Committee, "For the general welfare of persons elderly and/or blind or sick at the General Hospital". This estate included 78 New Street, St. Helier.
78 New Street is a mid-terrace, two-storey building with attic. On the ground floor is a restaurant, presently trading as the Shahi Tandoori Indian Restaurant, and a two/three-bedroomed flat on the first and second floor.
The Health and Social Services Committee approved a strategy of selling some of the E. Bailhache Trust properties in order to re-invest the proceeds into other properties in the portfolio, or to re-invest into new properties which would give a better investment return. In either case, the rental received would be used in line with the terms of the bequest.
The Health and Social Services Committee is now seeking the approval of the States to the sale of 78 New Street, St. Helier , to Mr. and Mrs. Mohammed Shafique Azam, who have submitted an unconditional offer of £180,000 for the property, to purchase it in the name of their company, Shafique Limited. They are the present tenants of the Committee and wish to secure the future of their business at 78 New Street.
The Committee therefore seeks approval of the States to the sale.