Public land release (2)

Meeting: 
MQT on 2014-07-02
Session date: 
July 2, 2014
Reference: 
2014/2450
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Why does the GLA not always retain the freehold of land it sells through the London Development Panel? Why does this practice differ from those of Transport for London, which is increasingly retaining the freehold of land and joining into joint ventures with developers?

Answer

Answer for Public land release (2)

Answer for Public land release (2)

Answered By: 
The Mayor

The GLA considers the disposal of each site on its merits and the most appropriate disposal route is undertaken. Where there is a clear benefit in retaining the freehold, we will do so. Otherwise, the property may be sold to ensure no long term liability but with conditions attached. i.e overage clauses, to ensure that the GLA is not financially disadvantaged.