GPU unloads £973m of state property
The government disposed of £973m of property in the year to March through the GPU, according to its State of the Estate report.
It also realised annual savings of £95m from exiting property leases.
According to the report, the total cost of running the estate was £2.6bn, down from £2.7bn in 2014-15. Adjusted for inflation, this represents a 7% reduction of £176m.
The government disposed of £973m of property in the year to March through the GPU, according to its State of the Estate report.
It also realised annual savings of £95m from exiting property leases.
According to the report, the total cost of running the estate was £2.6bn, down from £2.7bn in 2014-15. Adjusted for inflation, this represents a 7% reduction of £176m.
The total size of the Central Estate fell from 89.3m sq ft to 86.1m sq ft, a reduction of 3.7%.
The cost of office space per person was £4,587 in 2015-16, representing a 3% decrease since 2014-15. The cost of office space per sq ft was £4,768.
The Central Estate is made up of the core property holdings of government organisations. These are buildings that the organisation owns or has responsibility for the head lease. The number of holdings within the estate has fallen by 5% since the previous year, from 4,900 to 4,653, excluding land.
The Spending Review and Autumn Statement in 2015 said government departments had agreed to release an additional £4.5bn of surplus land and property assets, which will contribute to the government’s targets of achieving at least £5bn in receipts and selling enough land for 160,000 homes by 2020.
• To send feedback, e-mail alex.peace@estatesgazette.com or tweet @egalexpeace or @estatesgazette
