§ Mr. Proctor
asked the Minister for Trade what is the cost to public funds of the construction of the headquarters of the Inter-Governmental Maritime Consultative Organisation; for what purposes its building will be used; and if he will make a statement.
§ Dr. Vaughan
The final cost to United Kingdom public funds of purchase of the site and construction of the building for the new headquarters of the international maritime organisation is estimated to be about £35 million. The organisation will pay rent to the Government at a concessionary rate. The building will accommodate the secretariat of the organisation and provide it with conference facilities comparable to those available to other United Nations specialised agencies. To the extent that those facilities are not required by the organisation, they will be available for hiring out on commercial terms, and office space surplus to the secretariat's needs will similarly be sublet on commercial terms. The Government will receive 80 per cent. of the proceeds of such hiring and subletting. Handover of the building to the organisation is planned for the end of October this year.