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Ministry Of Works (Thames Sites)

Volume 529: debated on Thursday 8 July 1954

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asked the Minister of Works what property has been acquired by his Department on land reasonably adjacent to the Thames on both the North and South sides, between Vauxhall and London Bridges; and what have been the relative costs of such property on some comparable areas, either in case or on a percentage basis.

In the last five years my Department has bought two freeholds (on the North side of the River) and taken a long lease of one site (on the South side of the River) within half a mile of the Thames. The sites on the North were for offices, that on the South for industrial purposes. The difference between purchased office sites on the one hand and a leased industrial site on the other is such that the costs cannot usefully be compared.