Proceeds from property sales to be invested to fund Trust projects for Islanders in need

| May 9, 2014 | 0 Comments

The Minister for Health and Social Services has signed a Ministerial Decision covering the proposed sale of some of the properties owned by the Le Seelleur Trust.

The Trust, of which the Minister is the Trustee, was set up in 1996 following the death of Harold Ernest Le Seelleur, a building contractor who was well-known in Jersey. The Trust’s assets include properties in several locations in the Island.

The Minister, Deputy Anne Pryke, has appointed Jersey Property Holdings (JPH) to manage all Trust properties. This role will include the initial sale of two sites – the Oxford Road workshop and 9 Le Chevalier Road.

An investment strategy for the Trust has been drawn up and agreed by JPH, the Treasury Department, and the Minister for Health and Social Services. This will ensure that the remaining properties are effectively maintained and that an appropriate return is achieved for the Trust.

Further sales are expected in the near future, while other properties will be retained, with a programme of investment undertaken to ensure that they are kept to a good standard. Surplus funds will be invested in the Common Investment Fund on behalf of the Trust.

Deputy Pryke said: “These proposals will allow the assets of the Trust to be used in line with Mr Le Seelleur’s wishes to ‘benefit the aged, infirm and needy residents of the Island’. Proposals for specific projects for the fund are currently being considered.”

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