Commercial

Property firms make millions buying and selling on MoD land

Property companies have made millions of pounds by buying land from the Ministry of Defence and applying for planning permission, before selling on the sites.

In several cases, no building occurred before the resale; on other sites, no development at all has occurred years after the original sales. In most cases, the MoD failed to ensure that any of the windfall profits were returned to the taxpayer.

Nia Griffith, the shadow defence secretary, said the transactions were appalling and the MoD should have ensured the developers could not simply sell the land on at a large profit.

Read Article at TheGuardian.com

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