25 April 2022
A Development Agreement was signed between NG Development Company Limited and St Helena Government (SHG) on 22 April 2022 for phase one of a housing development at Bunkers Hill, Alarm Forest. This phase of development consists of 18 serviced plots.
Bunkers Hill is one of seven Comprehensive Development Areas (CDA) in the 2012 Land Development Control Plan. These are ‘areas within the Intermediate Zone where there is the opportunity for significant development, mainly residential, which will achieve optimum use of the land if planned and developed comprehensively and will be able to go ahead without time restriction if the developer is able to put in all services’.
In total, 148 plots can be accommodated in this development, over nine phases, consisting of a mix of Qualifying First Time Buyer plots, Resident Buyer plots, Investor/open plots, Commercial plots, Government Landlord Housing, and public play, public retail and community areas.
The Development Agreement (titled: “Contract for a freehold residential development known as Bunkers Hill Phase 1 at Bunkers Hill, Alarm Forest, St Helena Island”) also provides for option rights in favour of the Developer over the remaining eight phases of the CDA provided that the Developer achieves the required option triggers. SHG retains option rights over unsold plots in order to protect the public interest.
Minister Mark Brooks commented:
“I am extremely pleased that the Development Agreement for the CDA at Bunker’s Hill has been delivered. The signing of the Agreement demonstrates this government’s commitment to working with the private sector to enable the sustainable economic and social development of our Island, and addresses the specific action in our vision to implement schemes and policies that will create an environment whereby we can provide options for affordable housing, enabling our residents to own their homes.
“In addition, a development of this size should bring a significant fiscal stimulus for the economy, through enabling the injection of private investment into the construction sector, creating jobs, and increasing the disposable income of those working in the sector. I hope that this sends a clear message to all that St Helena is ready to deliver bespoke solutions to address local problems, honouring the expertise and skills of our local people.
“I would like to thank everyone who was involved in making this Agreement a reality, including the hard working staff in SHG – in particular in the Infrastructure department; and Mr Nigel George of NG Development Company Limited.”
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SHG
25 April 2022