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Estate Agents

Volume 170: debated on Monday 26 March 1990

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To ask the Secretary of State for Energy what factors he takes into account in deciding whether to appoint estate agents as advisers in major privatisations.

In any privatisation it is important to ensure that the property portfolios are properly documented and valued. This is the role of the valuers which the hon. Member chooses to describe as estate agents. It is a fundamental step in the process of establishing a realistic valuation of the undertaking as a whole and obtaining value for the assets in proceeds. This is consistent with the advice of the National Audit office to the Public Accounts Committee.