-
5
Although the number of flats to be produced from commercial/residential and residential sites is about 2,100 less than the 9,600 flats from the 1994/95 programme, he stressed that this was more than compensated by the very substantial numbers from the Airport Railway and PSPS developments.
Mr Hughes pointed out that, of the 27 sites, only 13 were proposed for disposal by auction with the remainder to be sold by tender.
This reflects the recommendations of the independent review panel set up in 1994 to report on auction arrangements as well as the nature of the sites concerned.
Mr Hughes said the programme included four sites for Letter A/B (or cash) tender amounting to 6.078 ha, and that this could result in the surrender of 1,635,574 sq ft of outstanding agricultural Letter B.
The estimated land revenue to be received in 1995/96 compared to 1994/95 is as follows:
Disposal Type
1994/95 (Actual)$M
1995/96 (Estimate)$M
Auctions/Tenders
12,776
14,373
Private Treaty Grants
7,342
13,270
Exchanges/Modifications
11.239
__9.161
Total
31,357
36,804
End/Monday, May 22, 1995