Academies: Land

(asked on 8th July 2014) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, what value of land has been sold by academy trusts since 2010.


Answered by
Edward Timpson Portrait
Edward Timpson
This question was answered on 14th July 2014

Whenever the Secretary of State for Education is asked for consent to a disposal, the academy trust provides an estimate of the land value on which to base his decision. This must be a Red Book valuation provided by a chartered surveyor.

About two thirds of all academy trusts hold their land on leases from the local authority, and consent is granted to the local authority if it applies to sell that land. The local authority would be responsible for accounting for any sale in its accounts for the year in which the sale completes. Similarly, where any freehold academy trust has been granted consent to dispose of land, it is responsible for including the actual receipt in its accounts. The majority of land transaction details are published online at: www.landregistry.gov.uk

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