Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Communities and Local Government, on what basis the Homes and Communities Agency determined the market value of the Venture Quays site in East Cowes.

The Homes and Communities Agency has a robust and well established policy on land disposals whereby it seeks to dispose of land at market value. As part of this process, the preferred bid for the sale of any land within the East Cowes site will be reviewed by an independent chartered surveyor - in line with the requirements set by the Royal Institute of Chartered Surveyors.