§ Dr. Lynne JonesTo ask the Secretary of State for the Environment (1) if he will make a statement on the sale by the Commission for New Towns of the freeholds of properties in Redditch to Burford Estates and Shenstone Properties;
(2) what assessment he has made of the extent to which the sale by the Commission for New Towns of the freeholds of properties in Redditch to property developers is in accordance with Government policies to encourage home ownership and affordable housing.
§ Sir George YoungThroughout the 1980s, the leaseholders of residential properties in Redditch had the opportunity to purchase their freeholds, with specific mailshots being made in both 1985–86 and 1989–90. Following this, in accordance with the Commission for the New Town's statutory remit to dispose of its assets for the best price reasonably obtainable, the freeholds of the remaining properties were advertised on the open market and were sold in two blocks on the basis of tenders received. Most leaseholders of houses have the right to enfranchise under the Leasehold Reform Act 1967 which sets out the basis for a fair price to be determined with provision, in the event of a disagreement, for either party to refer the matter to the local leasehold valuation tribunal.