HC Deb 09 January 1990 vol 164 cc580-1W
Mr. Foulkes

To ask the Secretary of State for Transport (1) what valuations of land and buildings at Prestwick airport, including land not needed for airport development, have been made since 1979; and what were the figures received;

(2) what valuations of the land at Prestwick airport not required for airport operations were carried out by his Department, by the British Airports Authority, or by or on behalf of his or their advisers prior to privatisation; and what were the figures received;

(3) what was the valuation of Prestwick airport, including land not required for airport operations, when last valued by the British Airports Authority prior to privatisation;

(4) when the land at Prestwick airport, including land not required for airport operations, was last valued for his Department; and what was the valuation received.

Mr. McLoughlin

The following gross current cost valuations of land and buildings have been provided by BAA plc, based on the published accounts of Prestwick Airport Limited, which was first incorporated on 6 January 1986.

Year ended March £ thousand
1987 27,552
1988 28,556
1989 32,974

The prospectus offering shares in BAA plc for sale noted that non-operational land and buildings at the seven BAA airports were valued at 1 April 1986 by Debenham, Tewson and Chinnock at £91 million. No separate figure was given for Prestwick airport. The prospectus gave a figure of £1,400 million for fixed assets at all of the BAA airports at 31 March 1987, but again did not separately identify a figure for land at Prestwick.

The Department has no readily available record of any earlier figures.