HC Deb 17 September 2004 vol 424 cc1864-5W
Bob Russell

To ask the Secretary of State for Defence (1) whether the sale of family accommodation and land at Colchester Garrison to Annington Homes included provision for Annington to share with the Government the proceeds of future sales to others; and if he will make a statement; [187992]

(2) how many units of family accommodation at Colchester Garrison were sold to Annington Homes; [187993]

(3) what the average price per dwelling received was from the sale of family accommodation at Colchester Garrison to Annington Homes. [187994]

Mr. Caplin

Under the terms of the 1996 Sale Agreement the Exchequer benefits from a Profit Share arrangement following subsequent disposal by Annington Homes Ltd. of surplus houses handed back by the Ministry of Defence. This arrangement applies for the first 15 years following the 1996 sale and is based on a sliding percentage of the profit made by the Company after allowable overheads have been deducted. To date the Exchequer has received approximately £100 million under this arrangement.

1,400 properties in the Colchester area were included in the 1996 sale and leaseback agreement with Annington Homes Ltd. The average price received for all properties included in the 1996 arrangement with Annington Homes Ltd was in the region of £29,000.

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