Over £2m spent by States of Guernsey on two key-worker homes
The response said: "This information is generally in the public domain but for ease of reference has been collated here to help to answer these questions efficiently and succinctly."
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BBC News
10 hours ago
- BBC News
Guernsey road reopens after 12-week water pipe installation
A main road in Guernsey has reopened after 12 weeks of work. Rue de L'eglise, Castel, was closed to allow Guernsey Water to complete part of its ring main project, which is said happened ahead of time and on Water said the ring main acted like a motorway for the water will now move on to Mont D'Aval and Beaucamps, which have been closed until 1 September for chamber refurbishments. Pedestrians and those cycling will be able to pass through the road closure, if observing signage, and a diversion will be in place along L'Aumone and Rue du Presbytere. Guernsey Water said the closure of Rue de L'eglise involved the installation of 500m (about 1,640ft) of pipework under the public highway. It said it had initially planned for the work to take place in two parts, the first being completed this year and the second completed in 2026. However it has been fully installed under a single closure of 12 weeks, it Falla, capital delivery manager, said: "It's very difficult to predict any difficulties and delays the team may come across during a project like this."She added: "We are delighted that minimal issues combined with an amazing team, made up of both Guernsey Water staff and contractors from Geomarine, have resulted in this phase being completed on budget and ahead of time."She said that during the road closure, teams has also undertaken refurbishment and replacement of a number of "problematic foul water manholes", which she said had saved "further disruption through additional closures". Guernsey water said the ring main project was being carried out over the next five to seven said it was to future proof the water supplies for northern parishes and to serve the island until 2100. It is expected to cost about £11m. Mr Falla said: "We're acting now to prevent problems in the future - a responsible course of action that is far less costly than fixing problems as and when they happen. "A failure of the current ring main would leave thousands without water."
BBC News
10 hours ago
- BBC News
Over £2m spent by States of Guernsey on two key-worker homes
The States of Guernsey has purchased two properties for more than £2m for key worker housing. They are a house named Le Friquet, at Route de la Croix Bailiff, St Andrew, and a house known as Avanche Fleche, Fort Road, St Peter Port. Le Friquet was bought for £900,000 and Avanche Fleche was bought for almost £1.5m. Deputy Neil Inder put the question of land purchased for housing to the Policy and Resource committee on Friday. The properties, both totalling a purchase price of £2,386,875, were included in the response. The response said: "This information is generally in the public domain but for ease of reference has been collated here to help to answer these questions efficiently and succinctly."
Reuters
15 hours ago
- Reuters
China plans to ask central government-run firms to buy unsold homes, Bloomberg News reports
Aug 14 (Reuters) - China is preparing to mobilise central government-owned companies in Beijing to buy unsold homes from troubled property developers, Bloomberg News reported on Thursday. Regulators are planning to ask major state-owned enterprises and bad debt managers, including China Cinda Asset Management ( opens new tab, to help reduce the oversupply of housing, the report said, citing people familiar with the matter. The firms will be allowed to draw from a 300 billion yuan ($41.83 billion) fund that the central bank had originally designated for an older initiative, according to the report. Last year, the central bank set up a relending loan facility for affordable housing to encourage local state-owned enterprises, or SOEs, to buy up unsold completed homes. The relending facility was aimed at helping them make these purchases at "reasonable prices." China's property sector's troubles trace back to 2021 when a regulatory crackdown on developer debt triggered a liquidity crisis, leaving projects unfinished and buyers wary. The State Council Information Office, which handles media queries on behalf of the central government, and China Cinda Asset Management did not immediately respond to Reuters requests for comment. ($1 = 7.1724 Chinese yuan renminbi)
