Some departments are on their way towards having a structured and strategic approach to property asset management. But central government departments are still a long way from achieving full value for money from their office accommodation, according to the National Audit Office. In a report out today, the government’s spending watchdog found that departments could […]
The Ministry of Defence (the Department) has committed itself to annual rental bills of nearly £200 million and lost out on billions of pounds of asset value as a result of selling and leasing back the majority of its married quarters estate to Annington Property Limited in 1996 because of the subsequent steep increase in house prices and rents.
By transferring ownership or leases of around 60 per cent of its estate (591 properties) to a private contractor, Mapeley, in 2001, the Inland Revenue and HM Customs & Excise planned to reduce their running costs and had the opportunity to save up to £1.2 billion by reducing the size of the estate. However, in […]
Sir John Bourn, head of the National Audit Office, reported to Parliament today on the risk of fraud in property management in the Ministry of Defence. Property management on the Defence Estate consists of maintenance work and minor new construction work up to a value of about £300,000 for each individual job, including VAT and […]
A National Audit Office report today finds that NHS trusts need to do more to identify property they no longer need and dispose of it more quickly and effectively. Better management could bring forward some sales and release significant sums for use elsewhere in the NHS. The NHS has one of the largest estates in […]