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Ministry of Defence

Answer

Mr. Gerald Howarth: To ask the Secretary of State for Defence what freehold (a) land and (b) buildings have been transferred by his Department to the ownership of QinetiQ, what the latest estimated value is of those assets; and how much (i) land and (ii) buildings has been leased to QinetiQ on leases in excess of 10 years. [87772] Dr. Moonie: When QinetiQ was vested as a plc on 1 July 2001, the following sites were transferred to QinetiQ: Aberporth Airfield, Alverstoke, Angle, Aquila, Bedford (three sites), Bincleaves, Chertsey, Christchurch, Cobbett Hill, Farnborough (Cody, Pyestock and Pyestock North), Fraser, Funtington North, Haslar (DERA site, not Hospital), Hurn (three sites), Hutton Moor, Malvern, Pershore, Portsdown, West Drayton and Fort Halstead. The last formal valuation which included all these properties was on 30 June 2001. At this point, the total value of the land and buildings transferred from MOD to QinetiQ reported in the opening balance sheet of QinetiQ was £342 million. Detailed terms and conditions for a number of leases are still subject to final negotiation. Currently, the only lease from the Ministry of Defence to QinetiQ with a term exceeding 10 years is for the satellite communications centre at West Freugh.

Secondary information

Type

Written question

Reference

87772; 396 c809-10W;396 c807-8W

Session

2002-03

Subjects

Assets Costs Buildings Finance Land Privatisation Property transfer Ministry of Defence QinetiQ

Contains statistics

Yes

Link

View this Written question on www.publications.parliament.uk