ESTATES
Letter to the Clerk of the Committee from
the Parliamentary Relations and Devolution Team, Foreign and Commonwealth
Office 8 December 2004
FCO ESTATE SALES 1 APRIL-30 SEPTEMBER 2004
In his letter of 20 July to the Chairman of
the Committee, Sir Michael Jay undertook to report to the Committee
sales of estate assets, three months after they occur. Rather
than send the Committee a string of reports of individual sales,
we would like to suggest quarterly report of the kind attached,
although in this first instance the accompanying table covers
the first half of the present Financial Year. We would plan to
submit further reports in April and July 2005 to cover the third
and fourth quarters of 2004-05, and so on.
A couple of points about the table. Firstly,
it shows the gross proceeds for each sale. Transaction costs vary
according to local law and practice and the complexity of a given
sale, but average (say) 6-8%. Secondly, none of the properties
involved was the residence of a Head of Mission.
Please let me know if any of the above, or the
table itself, are not clear.
Chris Stanton
Parliamentary Relations and Devolution Team
Foreign and Commonwealth Office
8 December 2004
Annex 1
FCO ESTATE SALES 1 APRIL-30 SEPTEMBER 2004
| Post | Type of Property
| Gross Sales Receipts £ |
| 21 April 2004 | Budapest |
Residential | 139,000 |
| 29 April 2004 | The Hague |
Residential | 154,000 |
| 7 May 2004 | Budapest | Residential
| 155,000 |
| 7 May 2004 | Port Louis |
Residential | 77,000 |
| 18 May 2004 | San Salvador |
Office | 940,000 |
| 30 June 2004 | Tunis | Plot
| 1,076,000 |
| 5 July 2004 | Santiago |
Residential | 424,000 |
| 9 July 2004 | Santiago |
Residential | 46,000 |
| 15 July 2004 | Buenos Aires
| Residential | 107,000 |
| 19 July 2004 | Buenos Aires
| Residential | 370,000 |
| 28 July 2004 | Canberra |
Residential | 856,000 |
| 28 July 2004 | Kuala Lumpur
| Residential | 203,000 |
| 29 July 2004 | Budapest |
Residential | 4,000 |
| 3 August 2004 | Bucharest |
Residential | 1,059,000 |
| 22 September 2004 | Kampala
| Plot | 14,000 |
| Gross Sale Proceeds: |
| 5,624,000 |
| | |
|
|
