News

Prison sales no ‘cash cow’

Building magazine examines progress on the government’s new-build prisons programme concluding that the sale of ‘old Victorian’ prisons is unlikely to be a ‘cash cow’ for the Treasury.

The article questions the profitability and viability of closing and selling old prisons to fund new prisons. Complications include the cooling of the property market, the pressure from local authorities to maximise affordable homes on prison sites, and the high costs of redeveloping listed buildings.

The full article is available free to view on the Building magazine website (but you will need to provide your email address and name to read it in full).

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