Sir – In last week’s feature (Acid test in PM’s backyard) you quote me as believing the Ministry of Defence does not own the land where married quarters were demolished and new housing will be developed. In fact I know the MoD doesn’t own the land.
In 1996, all married quarter estates were sold off to the Annington group of companies. The MoD then leased back the homes and paid for their upkeep. If homes were no longer needed, then Annington could sell them and retain the bulk of the profits. The same is true of the land in Carterton.
If the number of planned MoD houses is reduced from 780 to 200 then the remaining land reverts to one of the 20 or so Annington management, development or finance companies, subsidiaries of the Bank of Nomura.
The bulk of any profits remitted from the sale, or development, of the land will ultimately go to a Japanese bank. Paul Wesson, Carterton
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