Armed Forces: Housing

Defence written question – answered on 21st April 2008.

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Photo of Bob Russell Bob Russell Opposition Whip (Commons), Shadow Minister (Defence)

To ask the Secretary of State for Defence what mechanisms are in place to ensure that the Government receive from Annington estates or Annington Homes Ltd a percentage of the profit which the company makes on the subsequent disposal of former Ministry of Defence (a) housing and (b) land.

Photo of Derek Twigg Derek Twigg Parliamentary Under-Secretary (Ministry of Defence) (Veterans)

The 1996 Sale Agreement with Annington Homes Ltd includes a Profit Share Agreement. Under this, the Exchequer receives a percentage of any profit made on the subsequent disposal of properties and land that form part of a release to the company. To date the Exchequer has received some £140 million under this arrangement.

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