§ Mr. Gordon PrenticeTo ask the Secretary of State for Transport when the last valuation was made of the King's Cross railway lands; and what value was attached to the asset. [20305]
§ Mr. WattsA valuation of the King's Cross railway lands was carried out for the British Rail Property Board in March 1995. Based on rental income derived from the lands, the existing use value was estimated to be £5.8 million. A valuation was carried out for my Department in November 1995 to assess the development value of those parts of the King's Cross railway lands not ultimately required for the channel tunnel rail link operational railway which indicated a development value of up to £10.6 million.
§ Mr. PrenticeTo ask the Secretary of State for Transport when the last valuation was made of the railway land at Stratford now transferred to London and Continental Railways; and what value was attached to it. [20306]
§ Mr. WattsA valuation of the Stratford railway lands, including the land required for the channel tunnel rail link and Stratford international station, was carried out for the British Rail Property Board in March 1995. Based on rental income derived from the lands, the existing use value was estimated to be £15.2 million. A valuation was carried out for my Department in May 1995 to assess the development value of the lands excluding those parts required for the CTRL operational railway, which indicated a development value of up to £12.5 million.
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