UK government generates £1bn from property sales

The UK government made more than £1bn from sales of land and property last year, according to its State of the Estate report. The capital receipts will be invested back into the estate. The report also showed that more than £163m in savings were secured in 2023 due to reduced overall energy consumption across government buildings. Direct emissions from government buildings were reduced by 14% in 2022/23. The energy savings were delivered in part through the disposal of unused property and the relocation of civil servants into modern, multi-departmental hubs. Parliamentary secretary for the Cabinet Office, Alex Burghart, said: “These savings on our energy bills, alongside the income generated through the disposal of unused property, will be reinvested into improving the overall quality of the public estate. “We are committed to creating more modern and productive work environments where civil servants can be inspired and take pride in delivering the best possible service to the taxpayer.”