HC Deb 15 July 1997 vol 298 cc126-7W
Mr. Fitzpatrick

To ask the Secretary of State for the Environment, Transport and the Regions what is the total expenditure by the LDDC from public funds on the preparation of derelict sites to build-ready standard for the private residential developer in the Isle of Dogs area. [8020]

Angela Eagle

Of the sites owned by the London Docklands Development Corporation in the Isle of Dogs area which have a residential use, the Corporation have spent £8.773 million since 1981 on a range of preparation works. Repairs and enhancements to River walls, River walkways and a pier account for just over half of that expenditure. These works have fed through into land values. Actual and forecast receipts from the subsequent sale of the sites to private developers total £19.916 million with the excess of income over expenditure invested by LDDC in regeneration programmes. Additionally, in two instances (Arnhem Wharf and Masthouse Terrace) where LDDC undertook preparation works, 62 per cent. and 49 per cent. respectively of the subsequent residential development has been for social housing; in a third instance (Maconochies Wharf) the development has been a self-build project.