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Property Development Schemes

Volume 210: debated on Thursday 25 June 1992

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To ask the right hon. Member for Selby, as representing the Church Commissioners, (1) which property development schemes identified in the 1990 report and accounts do not yet have planning consent; and what is the total value of the commissioners' investment in these schemes;(2) how much the commissioners have invested in property development schemes being undertaken in partnership with other developers which have not yet received planning consent; and if he will list such schemes.

In answer to the first question, there are two such schemes; Ashford Great Park, Kent and Easton lane. Winnall, near Winchester, which are together valued in the commissioners' books at £17.25 million, or 1.67 per cent., of their total property portfolio, without planning permission.In answer to the second question, Ashford Great Park is the only such scheme. The commissioners have a current equity stake of £30 million and have supported the partnership with loan finance.