§ Mr. Donohoe
To ask the President of the Board of Trade how much it has cost to renovate his Department's building at 1 Victoria street, London. 
§ Mr. Heseltine
[holding answer 19 June 1995]: The Department of Trade and Industry does not own 1 Victoria street. The building was vacated in 1991 after condition surveys had shown substantial deterioration of mechanical and electrical services. The landlord, Legal 312W and General Property, subsequently agreed to commit £59 million—net of VAT—to bring the building up to modern standards, in exchange for a new 25-year lease on commercial terms. DTI will finance the balance of the project costs which are expected to be up to £2.4 million.