HC Deb 21 October 2003 vol 411 cc518-9W
Bob Russell

To ask the Secretary of State for Defence whether(a) the Ministry of Defence and (b) Her Majesty's Treasury will receive a payment from Annington Homes as a result of the sale of former Ministry of Defence dwellings and land at the Colchester Garrison; and if he will make a statement. [132816]

Mr. Caplin

Under the terms of the 1996 Sale Agreement between the Ministry of Defence and Annington Homes, the Exchequer benefits from a Profit Share arrangement when properties that have become surplus are returned to the owners (Annington) and sold. This arrangement applies for the first 15 years following the 1996 sale and is based on a sliding percentage scale of the profit made by the Company after allowable overheads have been deducted.