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We questioned the Cabinet Office about how current turbulence in the property market may affect...
Conclusion
We questioned the Cabinet Office about how current turbulence in the property market may affect this target.46 The Cabinet Office acknowledged these risks, particularly surrounding valuation. It assured us it would seek appropriate professional advice and there would be no fire sale of assets.47 The Cabinet Office also explained its approach to disposals, asserting that it can protect itself from some market turbulence. It argued there was relative security in selling off lots of small parcels of lands, as opposed to a few big, expensive properties that might fluctuate more widely in value.48
Government Response
A response document is linked to this report, dated 24 February 2023. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Report
Thirty-First Report - Managing central government property
21 Dec 2022
HC 48
Addressee Bodies
HM Treasury
Timeline
Recommendation age
3.7 yrs
Report published
21 Dec 2022