Andium Homes launches Fiscal Stimulus Package

22/06/2020

Andium Homes is delighted to confirm that, at its meeting of the 17th June, the Board approved proposals for an Economic Stimulus Package for the island’s Construction Industry. This includes:

  • From today, eight capital project design packages will be offered to the Islands construction industry Design Teams. 
  • From Tuesday 30th June, three major capital projects will be offered to our larger construction partners to provide future certainty and a much-needed pipeline of work.
  •  Additional opportunities will be offered to the Project Management disciplines in the island, to provide support for the above three projects and ongoing Capital Programme works.

With eight projects already in construction, we also intend to commence this year with: –

  •  The delivery of 21 new homes at Convent Court Low-Rise and a new headquarters for Age Concern Jersey.
  •  The refurbishment of the four tower blocks at Le Marais, which will be let as a four-year programme of works.
  •  The delivery of 122 new homes on the Jersey Gas site, which includes a 60% extension to the Millennium Town Park and a minimum of 150 public parking spaces.

In addition, there is also a pipeline of projects being brought to the market over the next 12 months to progress our target of 3,000 new homes by 2030. This will see expenditure of £150m in 2020 and 2021 alone, with a continuing £12m annual spend on maintenance of our 4,500 existing homes.

Ian Gallichan, Chief Executive of Andium Homes, said “Andium Homes is in a unique position to offer support and make a meaningful contribution to the current situation, by accelerating several pipeline projects and offering these to the market. This will fast-track the progression of these projects and ultimately take them to a ‘shovel-ready’ status, wherethey can be released for construction when the market has capacity.”

Martin Holmes, Chairman of the Jersey Construction Council, said “Andium Homes has been a proactive contributor to the work of the Construction Industry Response Team from its inception and we welcome this timely and significant support that will benefit a broad cross section of the local supply chain, from design teams through to contractors and suppliers of all sizes. Aside from the positive acceleration of their programme to deliver much needed homes for our community, this sizeable package of infrastructure work will act as economic stimulus and will give confidence to our industry as we start to emerge from the current restrictions and continue our work to build a sustainable industry” 

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