Fort Kinnaird: Sales

(asked on 21st June 2018) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what steps he is taking to ensure that the Scottish Government receives a share of the sale to a private company of Fort Kinnaird.


Answered by
Robert Jenrick Portrait
Robert Jenrick
This question was answered on 26th June 2018

90B(3) of the Scotland Act 1998 stipulated that assets held in joint venture structures, rather than by The Crown Estate alone, were not included in the transfer to Scottish Ministers.

The Crown Estate held a 50% interest in the Gibraltar English Limited Partnership, with the remainder held by the Hercules Unit Trust, advised by British Land.

The Crown Estate operates independently from Government under the Crown Estate Management Act 1961 and therefore HM Treasury has had no discussions on the sale of Fort Kinnaird with private companies.

Revenue from the sale of The Crown Estate’s interest in Fort Kinnaird will be passed to the UK Consolidated Fund, for the benefit of the UK as a whole.

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