Deputy Prime Minister written question – answered at on 7 September 2004.
To ask the Deputy Prime Minister what the value of assets transferred from One North East to the partnership with UK Land Estates was; and what the (a) cost and (b) source of the advice obtained by One North East before the sale was.
The assets transferred (as disclosed in the Agency's 2003–04 accounts as a post balance sheet event) were valued at £122 million.
The cost of advice sought was £2.2 million.
The main costs can be broken down as follows:
£000 | |
---|---|
1. Legal advice | 970 |
2. Property Consultant costs | 544 |
3. Surveying costs | 515 |
4. Accounting, tax and other technical advice | 160 |
Specialist advice was received from Eversheds (Legal), King Sturge (Property Specialists), PriceWaterhouseCoopers (Tax) and PartnershipsUK (more General advice).
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