Fort Kinnaird: Sales

Treasury written question – answered on 26th June 2018.

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Photo of Tommy Sheppard Tommy Sheppard Shadow SNP Spokesperson (Cabinet Office), Shadow SNP Spokesperson (Scotland), Shadow SNP Spokesperson (House of Lords)

To ask Mr Chancellor of the Exchequer, how many private companies his Department held discussions with on sale of Fort Kinnaird; when these meetings took place; and who attended those meetings.

Photo of Robert Jenrick Robert Jenrick The Exchequer Secretary

90B(3) of the Scotland Act 1998 stipulated that assets held in joint venture structures, rather than by The Crown Estate alone, were not included in the transfer to Scottish Ministers.

The Crown Estate held a 50% interest in the Gibraltar English Limited Partnership, with the remainder held by the Hercules Unit Trust, advised by British Land.

The Crown Estate operates independently from Government under the Crown Estate Management Act 1961 and therefore HM Treasury has had no discussions on the sale of Fort Kinnaird with private companies.

Revenue from the sale of The Crown Estate’s interest in Fort Kinnaird will be passed to the UK Consolidated Fund, for the benefit of the UK as a whole.

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