§ Mr. Tony BanksTo ask the Secretary of State for National Heritage what was the total cost to public funds arising from the restoration of Hampton Court; and what percentage this represented in terms of the total cost of restoration.
§ Mr. BrookeI have asked the chief executive of the Historic Royal Palaces agency, Mr. David Beeton, to reply to the hon. Member and I shall place a copy of his reply in the Library.
Letter to Mr. Tony Banks from Mr. David Beeton, dated 26 November 1992:
The Secretary of State for National Heritage has asked me to reply to your Written Parliamentary Question asking the total cost to public funds arising from the restoration of Hampton Court Palace; and what percentage this represented in terms of the total cost of restoration.
The total cost of rebuilding the damaged part of Hampton Court Palace following the fire in 1986 was £10.4 million. A further £1.1 million was spent on redecorating and representing the restored interior. The latter sum was a commercial investment with a forecast return in excess of 8 per cent. per annum. In the four months since the State Apartments re-opened, that investment has yielded a return substantially in excess of 8 per cent.
The total cost of both elements was met from public funds.