Disposal of GLA land and property

Meeting: 
MQT on 2014-11-19
Session date: 
November 19, 2014
Reference: 
2014/4278
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor
Category: 

Question

To what extent have wider Mayoral priorities - such as the need for additional affordable homes and new schools - been met in the sale of land and property owned by the Greater London Authority (GLA) Group? Are there any examples where land or property has been released at less than market value to reflect the social value of particular uses (such affordable housing or education)?

Answer

Answer for Disposal of GLA land and property

Answer for Disposal of GLA land and property

Answered By: 
The Mayor

The GLA regularly places conditions upon the use of land that it sells, in order to meet Mayoral priorities.  These conditions are incorporated in development agreements, through which the GLA is able monitor the achievement of the Mayor's priorities.

The sale price will reflect any such conditions.   The GLA has consent to dispose of land at 30% (capped at £10m) below best consideration, provided that it is conducive or incidental to promoting economic development or wealth creation; promoting social development; promoting improvement of the environment, in Greater London.  Any sale for a lesser sum would require Secretary of State approval.