« | Home | »

For Sale

Tags: |

Something that hasn’t been mentioned much in the post-privatisation analysis is the amount of money the Royal Mail stands to make out of its immense property holdings. One building alone in the company’s portfolio of disused offices in London – the mail centre in Nine Elms Lane – has been valued at half a billion pounds. That’s one-sixth of what the government sold the whole company for.

The office was closed in 2012, more than a year before the sell-off. And it’s not the only one. Dozens of delivery offices up and down the country, including mine, were closed in the run up to privatisation. Several of them remain unsold.

Could the offices have been kept empty on purpose? Royal Mail bosses now stand to make a lot of money out of the company they once used merely to manage.

Comments on “For Sale”

  1. farthington says:

    Ah yes, the post-Soviet model.
    The predatory Oligarchs, who Western readers have been taught to despise.
    And here we have the home-grown versions, no doubt to be feted as managerial geniuses.
    There is not and has never been any such thing as a ‘free market’.

Comment on this post

Log in or register to post a comment.

  • Recent Posts

    RSS – posts

  • Contributors

  • Recent Comments

    • name on Who is the enemy?: Simply stating it is correct doesn't make it so, I just wish you would apply the same epistemic vigilance to "Muslim crimes" as you do to their Hebrew...
    • Glen Newey on Unwinnable War: The legal issue admits of far less clarity than the simple terms in which you – I imagine quite sincerely – frame them. For the benefit of readers...
    • Geoff Roberts on The New Normal: The causes go back a long way into the colonial past, but the more immediate causes stem from the activities of the US forces in the name of freedom a...
    • sol_adelman on The New Normal: There's also the fact that the French state denied the mass drownings of '61 even happened for forty-odd years. No episode in post-war W European hist...
    • funky gibbon on At Wembley: If England get France in the quarter finals of Euro 16 I expect that a good deal of the fraternity will go out the window

    RSS – comments

  • Contact

  • Blog Archive

  • From the LRB Archive

    Edward Said: The Iraq War
    17 April 2003

    ‘This is the most reckless war in modern times. It is all about imperial arrogance unschooled in worldliness, unfettered either by competence or experience, undeterred by history or human complexity, unrepentant in its violence and the cruelty of its technology.’

    David Runciman:
    The Politics of Good Intentions
    8 May 2003

    ‘One of the things that unites all critics of Blair’s war in Iraq, whether from the Left or the Right, is that they are sick of the sound of Blair trumpeting the purity of his purpose, when what matters is the consequences of his actions.’

    Simon Wren-Lewis: The Austerity Con
    19 February 2015

    ‘How did a policy that makes so little sense to economists come to be seen by so many people as inevitable?’

    Hugh Roberts: The Hijackers
    16 July 2015

    ‘American intelligence saw Islamic State coming and was not only relaxed about the prospect but, it appears, positively interested in it.’

Advertisement Advertisement