£2 billion raised in government buildings overhaul

£2 billion raised in government buildings overhaul


£2 billion has been raised in government building sales and a further £300 million per year saved for taxpayers in operating costs since 2014, according to the Government’s Estate Strategy,

Last week’s report outlined new commitments free up housing, boost growth and create new jobs. Through smart property management and new efficient practices, vacant space has been reduced across the Government estate by 73% over the past four years and is currently at 1.5% – one-fifth of the private sector average vacancy rate.

The Estate Strategy will also seek to re-distribute thousands of public sector jobs away from London to other parts of the country by 2030, reducing Whitehall office buildings from over 65 to 20 and establishing a network of around 20 multi-agency Government hubs across the UK by the end of this parliament.

The strategy commits to reducing the number of government owned office buildings from 800 to under 200, saving £3.6 billion over 20 years in the process.

Oliver Dowden, Minister for Implementation said: “This strategy will drive economic growth and opportunity by moving more of government out of Westminster, creating tens of thousands of jobs.

“By releasing more surplus land to build homes, and delivering public services that are closer and more accessible to the communities which they serve, I am confident we will provide benefits and opportunities that work for everyone.”

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