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Property Values

Volume 405: debated on Wednesday 21 May 2003

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To ask the Chairman of the Public Accounts Commission what firm of valuers were used by the National Audit Office to value properties being disposed of in the Inventures sale; and how much the firm cost to employ. [114508]

NHS Estates, an executive agency of the Department of Health, is in the process of disposing of a portfolio of surplus property together with a property consultancy company called Inventures. The National Audit Office appointed King Sturge Financial Services Limited to advise on aspects of the sale of properties including the valuation methodology. The Comptroller and Auditor General expects to report to Parliament in due course. The cost of the work carried out by King Sturge Financial Services Limited was some £15,000 including VAT.