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wK0uxSZG
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Resource
Answer
Written answer
answer has question
nPBq9eWY
answer has answering person
Robert Goodwill
answer text
<p>The department purchases sites for future free schools where it represents value for money. We do not pay in excess of what a site is worth or purchase expensive sites if there are better value for money alternatives in the area.</p><p>Official market value is subjective and at a specific point in time, we do carry out Red Book Valuations as per Treasury Green Book guidelines but these reports are carried out as a guide to the sites value and are treated as commercially confidential documents.</p><p>The ESFA acquired 175 freehold sites between 2011 and 2016. On average, they paid 19% above Red Book Valuations for free schools with 20 sites costing 60% or more and 31 sites costing less than the Red Book Valuation. Any site that has been acquired that is 60% above the Red Book Valuation requires the ESFA Accounting Officer and HM Treasury approval.</p>
answer given date
answer has answering body
Department for Education
written answer has answering body
Department for Education
Department for Education
answering body has written answer
wK0uxSZG
answering body has answer
wK0uxSZG
nPBq9eWY
question has answer
wK0uxSZG
Robert Goodwill
answering person has answer
wK0uxSZG