LEALE’S Yard is a step nearer to being developed into a major retail and residential area. The Channel Islands Co-operative Society, which owns the site, have announced that plans will be submitted to Environment in the new year.

The society has wanted to develop the site for a number of years but progress has been slow because of the complexity of the development.

The society will submit plans that it says ‘closely follow the already States-ratified Outline Planning Brief for the area’.

A public presentation will accompany the plans and an application will also be made to demolish many of the older properties within the site.

The Co-op hopes the groundwork of the development will be able to start early in 2008.

A statement said the current occupiers of premises in the yard have been kept informed throughout the process.

‘The occupiers have had their leases extended for as long as possible. Early exit has been permitted without penalty, an option some occupiers have taken up.’

The remainder have been told that they must vacate the premises by 31 January.