§ Mr. Mikardoasked the Secretary of State for the Environment (1) what price per acre has been achieved for each site disposed of by the London Docklands Development Corporation in the Isle of Dogs enterprise zone;
(2) what was the purchase price paid by the London Docklands Development Corporation for the London yard 860W site on the Isle of Dogs; what were the sums spent by the London Docklands Development Corporation on the site; and what was the price negotiated for its sale.
§ Sir George YoungI am not prepared to give this information for all individual sites because market values of land in docklands, particularly for commercial sites in the enterprise zone, are not well established and this information could prejudice LDDC's efforts to obtain the best price for each site.
The price achieved for industrial sites in the enterprise zone has varied from £80–160,000 per acre and for office sites from £150–450,000 per acre.
In the case of London Yard, a site to which the considerations of confidentiality referred to above do not apply, LDDC paid £222,000 for the land. It has spent £2,256,000 on river wall works, decontamination and site development works. The site was sold for £818,400. The sale price was certified by the district valuer.