§ Mr. Spearingasked the Secretary of State for the Environment what part or parts of the master building agreement signed by the London Docklands Development Corporation and Olympia and York, require those developers to consult any London borough council, other than the London borough of Tower Hamlets, on any aspect of their proposals.
§ Mr. TrippierNone.
§ Mr. Spearingasked the Secretary of State for the Environment what is the appropriate sum, at 1987 prices, necessary to complete each phase of the Canary wharf development in the London docklands; what proportion of such sums is likely to be invested by British institutions; and what is the appropriate distribution of the shareholdings in the scheme by nationality.
§ Mr. TrippierI cannot speculate on these matters.
§ Ms. Gordonasked the Secretary of State for the Environment if he will direct the London Docklands Development Corporation to publish the master building agreement and associated agreements relating to Canary wharf.
§ Mr. TrippierNo.
§ Ms. Gordonasked the Secretary of State for the Environment what is the agreed contribution of Olympia and York to the costs of sewage and drainage works required for the Canary wharf development.
§ Mr. TrippierThe developers of Canary wharf are to be responsible for works, including those for drainage, on the site and for the costs of those works.
§ Ms. Gordonasked the Secretary of State for the Environment (1) what is the amount of public money to go into the Westferry circus part of the Canary wharf project;
(2) what contribution Olympia and York are making to the construction costs of Westferry circus.
§ Mr. TrippierThe developers of Canary wharf will bear the full construction costs of Westferry circus.
§ Ms. Gordonasked the Secretary of State for the Environment what information he has on the price of the land for the Canary wharf project agreed by the London Docklands Development Corporation and Olympia and York.
§ Mr. TrippierThe land price payable to LDDC by the developers of Canary wharf is equivalent to £1 million per acre for 20 acres, of which £8 million is payable in cash and £12 million is accounted for by the developers' commitments to various on-site works. The land price is only one element of the overall package to development proposals which includes the developers' £67 million contribution to the cost of LRT's City extension of the docklands light railway.
§ Ms. Gordonasked the Secretary of State for the Environment (1) whether any reassessment of the price for the land in the master building agreement for Canary wharf has taken place since the first draft agreement was prepared in 1986 up to the present day;
(2) what was the date at which an independent valuation was made for the Canary wharf development.
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§ Mr. TrippierThe Department kept the terms of the whole agreement, including the land price, under review throughout the negotiations and the land price was also considered in an independent assessment of the whole agreement in April 1987.