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SALE OF COUNTY HALL SE1

EDM (Early Day Motion) 658: tabled on 03 February 2005

Tabled in the 2004-05 session.

This motion has been signed by 26 Members. It has not yet had any amendments submitted.

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

Motion text

That this House condemns the deal struck between the London Borough of Bromley and the Shirayama Corporation for final settlement of the sale of County Hall; points out that Shirayama paid the London Residuary Body £50 million in October 1993 from a total purchase price of £60 million with the £10 million balance being paid without interest, in annual instalments on the basis of a share of the profits from the hotel; notes that no payments were made by Shirayama from October 1993 and that Bromley has now accepted a final payment of £7.8 million; draws attention to the fact that had an organisation or individual borrowed £10 million at the end of 1993 and repaid neither capital nor interest, the outstanding sum in 2004 would be around £20 million and demands that the National Audit Office examines this transaction which appears to be a scandalous sell-out of Londoners' interests to a cowboy corporation from Japan.

The first 6 Members who have signed to support the motion are the sponsors. The primary sponsor is generally the person who tabled the motion and has responsibility for it. The date shown is when the Member signed the motion.

In addition to the sponsors, the following Members have signed to support the motion.

There are no withdrawn signatures for this motion.