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Departmental Assets

Volume 467: debated on Thursday 15 November 2007

To ask the Secretary of State for Environment, Food and Rural Affairs what departmental assets are planned to be sold in each financial year from 2007-08 to 2010-11; what the (a) description and (b) book value of each such asset is; what the expected revenue from each such sale is; and if he will make a statement. (164167)

For reasons of commercial sensitivity it is not possible to itemise the net book value and expected sale revenue of each asset currently planned for disposal. However the Department is taking professional advice to ensure value for money and to maximise the return on these disposals.

The Department currently anticipates total receipts from the sale of assets of approximately £9 million in 2007-08; £36 million in 2008-09; £10 million in 2009-10 and £5 million in 2010-11. The disposals planned for the latter three years will form part of the Department's asset management strategy to be published in December this year.

Estimates of sale proceeds are subject to fluctuations in the property market and cannot be guaranteed, nor can it be stated with certainty exactly when these sales will take place.

It should also be noted that the figures apply to the wider DEFRA network, not just to the core Department. The assets in question are surplus or under-utilised land and property. The largest anticipated sale is that of DEFRA-owned land and buildings at Guildford, and we expect this to account for approximately one third of the income from asset disposals over the period 2007-08 to 2010-11.