HC Deb 20 June 1927 vol 207 cc1477-8
32. Sir R. THOMAS

asked the Minister of Agriculture what was the aggregate rent received from Crown land in Regent Street during the year 1926 under the new leases granted since the scheme of reconstruction was initiated?

Mr. GUINNESS

The total amount received in the financial year ended 31st March, 1927, in respect of ground rents reserved under new leases was £345,405.

Sir R. THOMAS

Is the right hon. Gentleman aware that the buildings erected on these lands have increased in rental value 1,700 per cent. since the War, and does he consider that to be attributable to the increase in the ground rents?

Mr. GUINNESS

It is due to the increase in the market value of the land, and I see nothing to regret in that fact, as the public is getting the benefit of it.

Sir R. THOMAS

But is the right hon. Gentleman aware that the public is getting no benefit, because these offices are to let, and no one can afford to pay such rents?

Mr. GUINNESS

Anyhow, we are receiving £345,000 out of it.

Sir R. THOMAS

Is it not the case that that sum is from the ground and not from the offices?