TfL landlord

Meeting: 
MQT on 2009-11-18
Session date: 
November 18, 2009
Reference: 
2009/3584
Question By: 
Gareth Bacon
Organisation: 
GLA Conservatives
Asked Of: 
The Mayor

Question

In its story about Bob Kiley's house, the Evening Standard reported that TfL does not want to be in the landlord business. What other unnecessary property does TfL own and what plans are there to divest it for a capital receipt?

Answer

Answer for TfL landlord

Answer for TfL landlord

Answered By: 
The Mayor

TfL regularly reviews it property portfolio and aims to release assets not closely associated with its operational business. Where there is development potential TfL works to optimise that potential and so maximise the receipts it obtains for reinvestment in its infrastructure. If there is no development potential the assets are sold on the open market.

TfL's Business Plan assumes that over the Plan period it will raise £607m from property sales and development.