LFEPA - disposal of land and property

Meeting: 
MQT on 2014-11-19
Session date: 
November 19, 2014
Reference: 
2014/4276
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor
Category: 

Question

Do you believe that in selling assets now, the London Fire and Emergency Planning Authority (LFEPA) will lose out on future increases in land and property values and the opportunity to gain valuable revenue income? Would you support LFEPA looking at options for joint ventures and/or long-term leases (both of which would provide a longer term income stream) as alternatives to outright disposal?

Answer

Answer for LFEPA - disposal of land and property

Answer for LFEPA - disposal of land and property

Answered By: 
The Mayor

The disposal strategy for the fire stations closed under LSP5 was agreed by LFEPA Resources Committee on 11 November 2013. This reflected the intention to dispose of the properties on a freehold basis at the earliest possible opportunity to reduce the ongoing costs associated with the sites. The Resources Committee agreed at its meeting on 13 November 2014 to recommend to LFEPA that it agrees the individual disposal recommendations for each of the sites in accordance with this strategy. That report considered the feasibility of leasing the nine sites but concluded that it was not appropriate in this instance. I shall respond to LFEPA on this issue, following my direction requiring all relevant information on the disposal of former fire stations to be shared with my office, and our shared desire to expedite the process.