TfL Property disposals

Meeting: 
MQT on 2008-11-12
Session date: 
November 12, 2008
Reference: 
2008/2505
Question By: 
Andrew Boff
Organisation: 
GLA Conservatives
Asked Of: 
The Mayor

Question

What are TfL's policies for encouraging purchases by small businesses when it considers property disposals?

Answer

Answer for TfL Property disposals

Answer for TfL Property disposals

Answered By: 
The Mayor

If the property is a freestanding building and let as a single unit, TfL would consider asking the tenant if they wanted to purchase the property.

In the case of a multi-let building, TfL would consider on a case-by-case basis both selling the property to multiple tenants or take a comprehensive approach to the property in line with the long-term plans for the area.

When disposing of surplus property assets, TfL generally seeks to market its properties openly so as to fulfil its duty to obtain 'best value' from such disposals. Small businesses are a part of that market.