§ Mr. BlizzardTo ask the Secretary of State for Defence what estimate he has made of the value of land held by his Department which is surplus to requirements. [82554]
§ Dr. MoonieThe value of property sold is eventually determined by the market at the time of sale, and is clearly subject to many uncertainties. However, the Ministry of Defence is conducting a review of its estate to determine which are its long term core sites that are to be the focus of future investment. Those sites that are non core will come forward for disposal in the medium to long term. In the meantime, the Department agreed to generate income of £500 million from the disposal of surplus land and property over the next three years.