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February 2, 2023

Sales at Major New Residential Development Completed

Benest & Syvret have recently completed the sales of 39 apartments at Hemery Row in St. Helier, a prestigious new residential development in the heart of the Island’s capital. The development was undertaken by Rok Homes Limited, the Island’s leading developer/builder.

The completion of sales represents the end of a two year project in which Benest & Syvret advised Rok on all aspects from the outset, assisting Rok in:

  • Negotiations for the original site purchase
  • Structuring the complex pre-purchase agreements conditional upon Planning consent.
  • Structuring of purchase and development finance and related securities
  • Conclusion of site acquisition
  • Structuring of individual ownership arrangements by way of share transfer
  • Preparation of off-plan pre-sale agreements
  • Liaison with selling agents and completion of off-plan sales
  • Procurement of managing agent and company secretarial services by tender process
  • Restructuring of finance to facilitate security against individual apartments
  • Completion of sales and liaison with agents and developer for presale inspections

Philip Syvret, head of the Benest & Syvret property team said:-

“We were delighted to assist Rok in another of its substantial projects. We were able to offer Rok a fixed price service for all work involved in the development which gave certainty as to its cost outlay from the outset. When a developer embarks on such a large project being able to program its legal aspects alongside physical development work with certainty and clarity is important. The highly efficient service that my team can provide has contributed to the completion of the development and onward sales well in advance of the target date.”

“The development retains the original Georgian frontage and provides a stylish garden area, enhanced by the elegant gates designed by students at Jersey Collage for Girls. All in all the development represents a valuable contribution to the Island in terms of architecture and community engagement.”

Benest & Syvret have a highly experienced property team and are widely recognised as one of the Island’s leading firms in property work. They represent significant number of the Island’s property developers, providing a holistic service in respect of site acquisition, finance structuring, Planning appeals and onward sales. For further information contact Philip Syvret on 706670 or philip.syvret@benestysvret.com.

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