§ Mr. SEDDONasked the Parliamentary Secretary to the Ministry of Munitions whether the amount paid for the purchase of the Cippenham motor depot was paid in actual cash; if not, how much was paid in cash; and how the remainder is to be recovered by His Majesty's Government?
Mr. HOPE:The sale price of the depot was £3,350,000, payable as follows: £100,000 on the signing of the heads of agreement on 7th April, 1920, £400,000 upon completion of the conveyance of the property to the purchasers by the Ministry or within three months of the signing of the heads of agreement, whichever may be the earlier—£500,000 by acceptance dated three months after the date referred for the payment of the £400,000 above, and the balance, £2,350,000 by five equal annual instalments, the first of which shall be payable on 31st December, 1921, and the remainder upon 31st December of each succeeding year, together with simple interest at the rate of 6 per cent. per annum calculated on the unpaid balance of the said purchase price.