65. Mr. T. THOMSONasked the Under-Secretary of State for the Home Department, as representing the First Commissioner of Works, the amount of land owned by the State in Regent Street; the date and value when acquired; and the value to-day?
§ Major COPE (Lord of the Treasury)I have been asked to reply for the Minister of Agriculture. The Crown owns all the frontage land in Regent Street, with the exception of a block immediately south of the Langham Hotel. Nearly all the land north of the Quadrant in Regent Street was acquired under the New Street Act, 1813, for the formation of Regent Street. The site of the Quadrant and Lower Regent Street was ancient Crown property. It is impossible to state what was the value of the land when acquired, but an idea of the present value may be gathered from the fact that the total rental obtained from ground rents in respect of the premises on completion of rebuilding will be approximately £450,000 per annum.
Mr. THOMSONWill the hon. and gallant Member refer those figures to the Chancellor of the Exchequer, as a means of getting increased income in the future?