1 What individual monetary values have been given to the pieces of land involved in the land swap deal between TFL and VCI/ZHA? 2 How was this value calculated and by whom? 3 Please provide a scale plan of the sites. 4 Has an unconditional transfer of ownership been completed?

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TfL Ref: FOI-1800-1819

               

Thank you for your  request received by Transport for London (TfL) on 8 October 2018 asking for information about land.

Your request has been processed in accordance with the requirements of the Freedom of Information Act and our information access policy. I can confirm we do hold the information you requested. You asked for:

Details of Land swap deal with developer at Vauxhall Island Site

1.What individual monetary values have been given to the pieces of land involved in the land swap deal between TFL and VCI/ZHA?

In accordance with the FOI Act, we are not obliged to provide information on the monetary values of this land as it is subject to a statutory exemption to the right of access to information under section 43(2).

In this instance the exemption has been applied as disclosure of information giving details of land values would prejudice our commercial interests, as it would be likely to prejudice our ability to gain best value in future negotiations with commercial partners at this and other locations by affecting their expectations of the values being negotiated.

The use of this exemption is subject to an assessment of the public interest in relation to the disclosure of the information concerned. TfL recognises the need for openness and transparency by public authorities, particularly where the use of public assets is concerned, but in this instance the public interest in ensuring that TfL is able to obtain the best value from public assets, outweighs the general public interest in increasing transparency of this process.

2.How was this value calculated and by whom?

Deloitte was instructed to value to the land by TfL.

3.Please provide a scale plan of the sites.

Please see attached.

4.Has an unconditional transfer of ownership been completed?

An unconditional transfer of ownership has not been completed.

Please see the attached information sheet for details of your right to appeal.

Yours sincerely,

Melissa Nichols

FOI Case Officer

FOI Case Management Team

General Counsel

Transport for London

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