National Audit Office
The Ministry of Defence’s arrangement with Annington Property Limited
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.
Published 30 Jan 2018
Value for Money
Ministry of Defence
Topics: Commercial and financial management, Commercial and regulation, Corporate finance, Defence and national security, Procurement and contract management
Recommendations
No recommendations are indexed here. The report itself may contain some: see the report on nao.org.uk, linked above.
Public Accounts Committee follow-up 1 report
The Public Accounts Committee examined this NAO report and made its own recommendations. The government replies to those in Treasury Minutes.