§ Mr. CorbynTo ask the Chancellor of the Duchy of Lancaster what is his Department's estimate of the annual cost to the Property Services Agency of renting Archway tower, Junction road, London N19; and what plans he has to reduce this cost. [510]
§ Dr. David ClarkResponsibility for this matter has been delegated under the terms of its framework document to the Property Advisers to the Civil Estate (PACE) under its Chief Executive, Mr. Malcolm Bowles. The Agency is therefore responding to this question.
Letter from M. H. Bowles to Mr. Jeremy Corbyn, dated 19 May 1997:
The Chancellor of the Duchy of Lancaster has asked me, as acting Chief Executive of PACE, to reply to your question about Archway Tower, Junction Road, N.19You will know from our letters to you, dated 29 April 1996 and 22 January 1997, that PACE has responsibility for Archway Tower which is held on a lease by the Secretary of State for the Environment and would need extensive modernisation and refurbishment prior to re-use as offices.The annual cost of holding the building is approximately £1,100,000 including security and maintenance. In addition. renovation works are shortly to be carried out to the ground floor exterior and approaches, to accord with the London Borough of Islington's Urban Design Strategy for Archway and to improve the prospects of disposalLetting agents are appointed to dispose of the lease for offices but demand is coming significantly from residential developers. Discussions are continuing with the owners of the property and the local planning authority to consider a change of use of the building to residential. In order to leave no stone unturned, the possibility of a joint disposal with our landlords is as you know also being actively pursued by our consultants.