§ Mr. Michael Lathamasked the Secretary of State for the Environment why, in view of the fact that the former owner of the land at Asket Hill, Leeds, did not wish the land developed in her lifetime, it was decided by the Land Commission to buy it for that purpose; what was the cost of the transaction; what have been the interest charges on the purchase of Asket Hill to date; and whether it is anticipated it will be resold at a profit.
§ Mr. Guy Barnett:The Land Commission presumably bought the land in furtherance of its function to secure that land was available for the implementation of national, regional and local plans.
Following the change of Government in 1970 and the announcement of the intention to dissolve the Land Commission, this site, like others, was offered back to the former owner at current market value. Although she chose not to repurchase, it was decided that in all the circumstances 31W the site would not be developed during her lifetime.
It is not the practice to disclose the financial details of Government property transactions, but no interest has been charged since completion of purchase. The disposal value has yet to be determined.