THE public will get half of the profits Dandara make out of developing the Les Pas land, Chief Minister Frank Walker told the States today.

Responding to a claim by Senator Ben Shenton that Islanders may have got a raw deal from the States decision to transfer ownership of the waterfront site to Les Pas Holdings, Senator Walker said that the land had been independently valued at £10 million, but in September 2003 Members voted by 26 votes to 16 that striking the deal was preferable to fighting the claim – which might have cost the taxpayer £80 million.

Senator Walker also rejected Senator Shenton’s claim that a height limit of six storeys was used in determining the value of the land.

‘The valuation was based on the number and quality of the apartments, not the height of the buildings,’ he said.

Nonetheless, he added: ‘None of the schemes submitted to date has included tall buildings on the Les Pas land.’ Les Pas Holdings subsequently sold the land to Dandara, who are proposing a £150 million high-rise development on a site overlooking the Elizabeth Marina which also includes public land.