« | 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

    • fbkun on Justice for Théo: Polls show that more than half of French police(wo)men vote for the Front National. Quelle surprise...
    • jcscott on The Deep State: How we get rid of Trump is at least as important as whether we get rid of him. The best would be a progressive landslide election in 2020 repudiating ...
    • Oliver Miles on Shambles in Court: A very difficult problem, almost insoluble. Many people are quite unaware of it and just assume that if there is an interpreter there is no problem. I...
    • michael bosley on Arguing with Strangers: Meanwhile, in the UK, cuts in sexual health services are being made by stealth, with hardly any public/political debate. As a report by the Advis...
    • Mat Snow on Not So Innocent: Agreed. But I suspect that when Trump does meet Putin, such pressing issues as international terrorism, nuclear proliferation, drug trafficking and ot...

    RSS – comments

  • Contact

  • Blog Archive

Advertisement Advertisement