asked the Secretary of State for Transport what steps he is taking to ensure that National Bus Company sales programme will not lead to land redevelopment for non-transport purposes.
In accordance with its statutory duties, the National Bus Company seeks to sell its local bus operating subsidiaries to parties who will continue to operate bus services. My right hon. Friend sees no reason to seek to prevent redevelopment of land owned by privatised bus companies, as more efficient use of assets in this way will often be a part of the companies' plans for the successful continuation of their bus operations. Where a property has a potentially high alternative use value, the National Bus Company is imposing a mortgage charge to secure for the taxpayer a substantial share of future development gain.
asked the Secretary of State for Transport what former National Bus Company subsidiaries have been privatised; what form of privatisation took place and on what terms in each case; and if he will make a statement.
The following National Bus Company subsidiaries have so far been bought out by their own managements:
- Badgerline Ltd.
- Cambus Ltd.
- Cheltenham and Gloucester Omnibus Company Ltd.
- The City of Oxford Motor Services Ltd.
- Devon General Ltd.
- Eastern Counties Omnibus Ltd.
- East Kent Road Car Company Ltd.
- The Eastern National Omnibus Company Ltd.
- East Yorkshire Motor Services Ltd.
- The Maidstone and District Motor Services Ltd.
- Midland Red Coaches Ltd.
- Midland Red West Ltd.
- Potteries Motor Traction Company Ltd.
- The Southern Vectis Omnibus Company Ltd.
- South Midland Ltd.
- Trent Motor Traction Company Ltd.
- West Riding Automobile Company Ltd.
- The Yorkshire Traction Company Ltd.
|Frontsource Ltd.||Alder Valley Engineering Ltd.|
|Bristol Engineering Ltd.|
|Carlyle Works Ltd.|
|Eastern National Engineering Ltd.|
|H & D Distribution Ltd.|
|Kent Engineering (NBC) Ltd.|
|Southdown Engineering Services Ltd.|
|United Counties Engineering Ltd.|
|Pleasurama Group ATL (Holdings) Ltd.||National Holiday Ltd.|
|NTE Coaches Ltd.|
asked the Secretary of State for Transport (1) when the West Riding Group, West Riding Auto and Yorkshire Woollens, former subsidiaries of the National Bus Company, were privatised; to whom the West Riding Group was sold; what was the valuation of its assets at the time of sale; and what was the valuation of assets given in the last accounts published for the West Riding Group as a National Bus Company subsidiary;(2) when the National Travel East Coaching Unit, Sheffield, a former subsidiary of the National Bus Company, was privatised; to whom the unit was sold; what was the valuation of its assets at the time of sale; and what was the valuation of assets given in the last accounts published for the unit as a National Bus Company subsidiary;(3) when Yorkshire Traction, a former National Bus Company subsidiary, was privatised; to whom Yorkshire Traction was sold; what was the valuation of assets at the time Yorkshire Traction was sold; and what was the valuation of assets given in the last accounts published for Yorkshire Traction as a National Bus Company subsidiary.
The information is as follows:
|Company||Purchaser||Total net assets at 31 December 19852 £000|
|West Riding Automobile Company Ltd. (including Yorkshire Woollens)||Management team||1£10,947|
|NTE Coaches Ltd.||ATL (Holdings) Ltd.|
|The Yorkshire Traction Company Ltd.||Management team||£2,992|
1 These businesses operated as one NBC company but were sold as separate subsidiaries.
2 Excluding amounts due from National Bus Company.
Asset valuations at the time of sale are, like other details of the disposals, commercially confidential.