The total land and property owned by the States in the island is currently valued at �1.2bn.

All of it is now being reviewed to find out how well States assets are being used and whether costs can be cut.

The Policy and Resources committee says it is going to plan and is thought to be on target for completion by the end of July.

The review is being carried out by David Margason, the managing director of the Waterfront Enterprise Board, and a qualified chartered surveyor.