§ Mr. David EvansTo ask the Secretary of State for the Environment when he intends to offer Property Services Agency projects for sale; and if he will make a statement.
§ Mr. RedwoodI am pleased to announce that the Government are now ready to offer PSA Projects for sale, by competitive tender.
The sale will be advertised widely here and in Europe. Next week copies of the sale memorandum will be available on request to those interested in buying PSA Projects from my advisers, Coopers and Lybrand. While I would prefer to sell projects as a single entity, it is open to prospective purchasers to indicate their interest in part purchases. Preliminary bids need to be submitted by 26 June. Shortlisted bidders will then be provided with more detailed information and be expected to make final offers approximately 4 weeks later.