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Departmental Buildings

Volume 498: debated on Monday 2 November 2009

To ask the Secretary of State for Foreign and Commonwealth Affairs (1) how many properties his Department owns overseas; and what recent estimate he has made of the monetary value of his Department's overseas estate; (292501)

(2) which 20 properties his Department owns overseas have the highest valuations; and what the valuation of each such property is.

The Foreign and Commonwealth Office (FCO) owns 2,119 properties overseas on a freehold or ground leasehold basis. The top 20 overseas properties by market value are set out in the following table:

Market value of top 20 FCO Overseas Properties as at 31 March 2009

Property name

Market value rate (£ million)

Bangkok compound1

103.8

Hong Kong compound2

78.1

Paris embassy

76.2

Mumbai Deputy high commission

69.0

Tehran Ferdowsi compound

65.5

Kuwait City compound3

60.0

Paris residence

53.9

Rome residence compound4

52.5

Buenos Aires compound5

51.7

Cairo compound6

51.5

Seoul compound

37.0

Washington compound

35.5

Tehran Gulhak compound

33.7

Bahrain Manama compound

29.5

Rome embassy compound7

29.0

Geneva residence

24.4

Copenhagen embassy compound

22.7

New Delhi compound

21.5

Athens residence

21.4

Athens office

18.6

Notes:1 Includes value of the Bangkok residence on the compound at £18.8 million. 2 Includes value of the Hong Kong Consulate-General building on compound at £31.2 million. 3 Includes value of the Kuwait City management building on the compound at £26 million. 4 Includes value of the Rome residence on compound at £41.8 million. 5 Includes value of the Buenos Aires residence on compound at£44 million. 6 Includes value of the Cairo residence on the compound at £21.3 million. 7 Includes value of the Rome embassy on the compound at £23.2 million.

These are the current market values expressed in sterling, which are subject to exchange rate fluctuations. The aggregate book value of all FCO properties is reassessed annually, and can be found in Volume 2, table 12: Tangible Fixed Assets on page 131 of the FCO's most recent published resource accounts, a copy of which is available on the FCO website:

http://www.fco.gov.uk/en/about-us/publications-and-documents/publicationsl/annual-reports/departmental-report/

The book values of individual properties is also shown in the National Asset Register which can be accessed at:

http://www.hm-treasury.gov.ukypsr_investment_nar_2007_ index.htm