Valuation of Philip Le Feuvre House and Huguenot House
This content has been automatically generated from the original PDF and some formatting may have been lost, therefore it should not be relied upon to extract citations or propose amendments. Please see the PDF for the official version of the document.
WQ.85/2026
WRITTEN QUESTION TO THE MINISTER FOR INFRASTRUCTURE
BY DEPUTY D.J. WARR OF ST. HELIER SOUTH QUESTION SUBMITTED ON MONDAY 16th 2026
ANSWER TO BE TABLED ON MONDAY 23rd 2026
Question
"Will the Minister provide the valuation of Philip Le Feuvre House and Huguenot House and advise how this has changed over the last 5 years?"
Answer
It should be noted, for context, that the secondary office market has weakened substantially in recent years, with occupiers increasingly prioritising Grade A high quality, energy efficient spaces.
As a result, secondary stock, such as Philip Le Feuvre House and Huguenot House – both older buildings requiring significant refurbishment – has become increasingly obsolescent in the current office market. Indeed, La Motte Street as a location has become increasingly unattractive to occupiers as newly developed office buildings around the Waterfront and the Esplanade have become established and are drawing demand away from this area of town.
Market Value
In 2023, a market valuation was carried out by a local independent valuer. This valued Philip Le Feuvre House at £2.62 million, and Huguenot House at £690,000.
Under standard valuation practice, value is defined as the estimated amount for which a property should exchange on the valuation date between a willing buyer and a willing seller after proper marketing. On this basis, the most reliable measure of the true Market Value of a building is what the market is demonstrably prepared to pay for it. It should also be acknowledged that some of the alternative uses of the site, such as open public space, would give the site a much lower valuation.
Both Philip Le Feuvre House and Huguenot House have now been exposed to the open market twice, in 2024 and again in 2026, providing direct evidence of market appetite and pricing.
Philip Le Feuvre House, Huguenot House and 38 La Motte Street were offered to the market in September 2024, attracting conditional and unconditional offers ranging between £2.325 million and £3.0 million. The sale was subsequently paused whilst further discussions were held by the Council of Ministers on potential alternative uses for the site.
It was subsequently agreed that 38 La Motte Street would be withdrawn from the sale and Philip Le Feuvre House and Hugeuenot House were remarketed in early 2026, resulting in three unconditional and conditional offers being received between £1.925 million and £2.705 million.
The market has significantly moved over the last five years and the recent marketing of the site and agreed sale value of £2.3 million (unconditional) represents the best overall value for money to the public of Jersey.