Source · National Audit Office

The Ministry of Defence’s arrangement with Annington Property Limited

Published: 30 Jan 2018 Type: Value for Money Department: Ministry of Defence

The Ministry of Defence (the Department) has committed itself to annual rental bills of nearly £200 million and lost out on billions of pounds of asset value as a result of selling and leasing back the majority of its married quarters estate to Annington Property Limited in 1996 because of the subsequent steep increase in house prices and rents.

Dept: Ministry of Defence Topics: Commercial and financial managementCommercial and regulationCorporate financeDefence and national securityProcurement and contract management nao.org.uk →