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WRITTEN QUESTION TO THE MINISTER FOR ECONOMIC DEVELOPMENT BY SENATOR B.E. SHENTON
ANSWER TO BE TABLED ON TUESDAY 24th MARCH 2009
Question
Can the Minister advise the Assembly whether the development of the Esplanade Quarter by one developer has been referred to the Jersey Competition Regulatory Authority and if not, why not?
Given the development consists of 16 separate building blocks comprising offices, retail and restaurants, 388 residential apartments and 65 self-catering units, does he consider that the appointment of one developer could place them in a position of dominance and have detrimental competition ramifications as the site is developed?
Answer
The JCRA has been consulted and they consider that there is no dominant position. Dominance is defined based on a relevant market, and there appears to be no basis to limit the relevant market to the provision of office space at the Waterfront, as opposed to the provision of office space in St Helier generally. The whole notion of dominance is based on a firm's ability to increase prices by restricting the supply of a good or service within a relevant market. Here, there appears to be the opposite effect, an increase in the supply of office space available in St Helier.