First tenant announced for new Jersey finance centre

UBS has agreed to move to the premises, once the development is complete. Earlier this week an appeal was launched against the development.

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Concerns raised over finance centre development

The planned finance centre. Credit: ITV News

Concerns about the construction of a new international finance centre in Jersey have been raised by Save Our Shoreline.

UBS has been announced as the first tenant for the centre, and the Treasury Minister says this means construction of the first building is financially viable, and can get underway.

However, Save Our Shoreline has queried this.

The group understands UBS has agreed to lease part of Building 4, a 67,000 square foot development.

It says this wouldn't be enough to fund construction.

It also says funding for the project would be guaranteed by the States, putting public money at risk.

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