Source · Select Committees · Public Accounts Committee
Recommendation 5
5
Acknowledged
In addition to this, the Cabinet Office should update us yearly on the rollout of...
Conclusion
In addition to this, the Cabinet Office should update us yearly on the rollout of the hubs programme. Such updates should include the lease term and next available break point for each GPA hub, the extent to which offices are being sublet, the current levels of vacant space and what plans government has to sublet this space in the short to medium term.
Government Response Summary
The Cabinet Office has commissioned departments to produce a forward look of their planned disposal activity to 2030, which will be refreshed periodically to enable analysis and monitoring of disposal plans.
Government Response
Acknowledged
HM Government
Acknowledged
The government agrees with the Committee’s recommendation. Cabinet Office has commissioned departments to produce a forward look (pipeline) of their planned disposal activity to 2030, and these pipelines will be refreshed periodically. This will enable the Cabinet Office to analyse, report on and monitor disposal plans, setting relevant programme performance indicators and measures to do so. Disposal plans will form part of the wider property efficiency conversation that departments will have with HM Treasury during the Efficiency and Savings Review, and the merit of setting targets will be determined during that exercise. An updated version of The Disposal of Government Property (Real Estate) guidance will be published in 2023 to align with current government priorities. The guidance provides disposal best practice advice and the technical processes to be followed to ensure Best Value is obtained in any disposal. This includes documenting the objectives driving the disposal, and from those to determine, with professional valuation advice, the most appropriate disposal strategy and method of sale. Departments should consider the implications on the disposal strategy of a weaker or uncertain market, including whether setting provisions to benefit from increases in value after disposal through overage or clawback, or the potential for partnership or profit sharing arrangements are appropriate.