News Desk

The Government according to City analysts could be sitting on real estate valued at £500 billion, with plans revealed today to sell this to private sector.

A letter by the Prime Minister has already been sent to all ministers underlying the Governments intentions to have a full audit of Government property, with the length of leases and occupants.

The Department of Health alone is believed to have over 77,000 buildings, illustrating the biggest problem the Government faces is to have an accurate audit of assets.

The Daily Telegraph in a report today has said that the Government may consider "packaging" up properties that are eventually sold as portfolios on the stock market.