§ Mr. LawsTo ask the Chancellor of the Exchequer what his latest estimate is of the value of the Bank of England's land and buildings at(a) Threadneedle Street, London. (b) other London addresses and (c) other UK addresses, based on (i) the valuation for existing use and (ii) the highest valuation for alternative use; and if he will make a statement. [92515]
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§ Ruth KellyAs at 30 November 2002. the existing use value of the Bank of England's land and buildings (including fixed plant) in the respective locations is:
- (a) £172.4 million
- (b) £40 million
- (c) £17.2 million
These figures reflect a professional valuation as at 28 February 2001 by Insignia Richard Ellis, plus the cost of subsequent additions, less depreciation.
Valuations for alternative uses are not available. These figures are unaudited.
§ Mr. LawsTo ask the Chancellor of the Exchequer what his latest estimate is of the value of the fixed assets of the Bank of England; and what date these estimates were made; and if he will make a statement. [92516]
§ Ruth KellyA valuation of the tangible fixed assets of the Bank of England, as at 28 February 2002, was included in the Bank's Annual Report, laid before Parliament on 23 May 2002.