§ Mr. Campbell-SavoursTo ask the Secretary of State for the Environment (1) whether he is satisfied that the price being agreed for the sale of the Crown Suppliers transport section fully reflects alternative uses of all five sites which form part of the sale;
(2) whether the sale of the five land sites belonging to the Crown Suppliers transport section provides for a valuation based on existing use value, planning hope value, or a valuation based on approved planning applications following the completion of any sale.
§ Mr. YeoThe Government are concerned to ensure that they obtain a fair price for the business, having regard, among other things, to the market value of the assets, including the land. To this end independent professional valuations of the freehold sites have been obtained.
§ Mr. Campbell-SavoursTo ask the Secretary of State for the Environment whether he will make it his policy not to permit control of the transport section of the Crown Suppliers to be varied prior to the payment of moneys by the management buy-out for the transport section of the Crown Suppliers.
§ Mr. YeoThe Secretary of State will retain control of the transport business of the Crown Suppliers in the run-up to any sale.
§ Mr. Campbell-SavoursTo ask the Secretary of State for the Environment on what date Mr. Bill Pinkney first approached the Crown Suppliers or his Department directly with an offer to purchase the Crown Suppliers transport section.
§ Mr. Campbell-SavoursTo ask the Secretary of State for the Environment what moneys have been allocated, paid or contracted for payment to the management buy-out for the Crown Suppliers transport section connected to Mr. Bill Pinkney and Mr. Bramall of Dewsbury.
§ Mr. YeoA total of £36,000 has been paid in support of professional fees incurred by a team lead by Mr. Pinkney. Provisional agreement has been reached to provide additional support of up to a further £111,000, subject to certain conditions being met. No commmitment to this further amount has so far been given. If Mr. Pinkney's team were successful in acquiring the business, the new company would have to repay all Government support.
§ Mr. Campbell-SavoursTo ask the Secretary of State for the Environment (1) whether he will make a statement as to the investigation carried out by the Property Services Agency audit section into the activities of Mr. Bill Pinkney;
(2) whether he will list the actions taken by Mr. Bill Pinkney which led to an investigation being carried out by the Property Services Agency audit section.
§ Mr. YeoAn audit of travel and subsistence, and certain other expenditure in the Crown Suppliers, including the transport business in which Mr. Pinkney is employed, has been undertaken by the Property Services Agency internal audit. The Crown Suppliers management have considered and are following up the matters arising from that audit.
§ Mr. Campbell-SavoursTo ask the Secretary of State for the Environment what was the value of the orginal hid in cash terms submitted by the management buy-out led by Mr. Bill Pinkney for the transport section of the Crown Suppliers.
§ Mr. YeoIt would not be in the interests of a successful sale to reveal at this stage the details of any bids for the business.
§ Mr. Campbell-SavoursTo ask the Secretary of State for the Environment what steps he took to satisfy himself that the offer to purchase the Crown Suppliers transport section by a group of persons led by Mr. Bill Pinkney is a valid management buy-out initiative.
§ Mr. YeoThe members of the team, the sources of finance, control and structure of the proposed new company will be included in the factors to be taken into account in assessing their bid for the business.
§ Mr. Campbell-SavoursTo ask the Secretary of State for the Environment what values have been placed on the five sites comprising the property portfolio which forms part of the assets of the Crown Suppliers transport section.
§ Mr. YeoThe market values of the three freehold sites in 1989 were as follows:
£ million Nine Elms, London 1.5 Burnett, Bristol 0.7 Biggleswade 1.5 Total 3.7 The leasehold sites are not considered to have any realisable value.
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§ Mr. Campbell-SavoursTo ask the Secretary of State for the Environment whether any Minister in his Department or their officials have met Mr. Bramall of Dewsbury to discuss the privatisation of the Crown Suppliers transport section.