This will be one of the key commitments of the Conference on the deficit, with the reduction of the tax niches and the planing of operating expenditures: after two years almost white, the State account restart at an unprecedented pace, implementing sale of its real estate. Some 1,700 buildings must be transferred between 2010 and 2012, or 6 of the assets of the State, announced François Baroin, Minister of the Budget, public accounts and the reform of the State, yesterday in Council of Ministers. "The Government has set the objective of providing the State of a portfolio more tightened, better adapted to its missions, more efficient of its publicly", he argued. The budget issue is for the moment, impossible to quantify, because the size and nature of goods are very varied. It's real estate of prestige in the heart of Paris (hôtel de Seignelay, etc.), as well as forest houses or land military dilapidated, sometimes assigned to the House of Commons for one symbolic euro.
A fragile market
It prevents: this announcement, which reflects a still unparalleled ambition, should reassure Brussels on the path of recovery of public finances. Sales since 2005 (EUR 3 billion), which hit the Central Government, will be systematized in the province, in the deconcentrated services. List of the goods concerned and the date of sale forecasting will be presented in the coming weeks.
Launched in 2007, the rationalization of the services of the State at the local level (DDASS, equipment management, etc.) is the project to identify the larger margins of manoeuvre. It will free up 750 sites and reduce of 500,000 square metres surface of offices occupied. Effort three times higher than what has been globally achieved since 2007 (184.000 square metres have been transferred). And military restructuring, the new judicial map or the merger of the taxes will allow to give, also, hundreds of buildings.
Remains whether if, in a still fragile real estate market, the Government can keep its commitments. Sales in 2008 and 2009 were very far from the announced objectives. On the EUR 1.2 billion expected last year, only 200 million were actually released. The 900 million of revenue for this year, they seem to also hardly attainable. Course, Parisian sale operations meet with more success than last year. In addition to the headquarters of weather France, purchased by the Russia early March, the Government is about to break away from the premises of the national geographic Institute (IGN) and tax services of rue La Boétie, in the 8earrondissement, and Saint-Dominique Street and the boulevard de la Tour-Maubourg, buildings in the 7th.
But the sale of the Parisian premises of the Ministry of defence, which must represent 700 million euros, is delayed. Initially, the Government had planned to sell as a whole to a single buyer, via portage structure. But the project turned, absence of financial agreement between the State and the buyer. The Government will therefore proceed with assignment of buildings on a case by case basis, which means more time and also more uncertainty on the selling price. A building must be soon transferred to the prestigious boulevard de la Tour-Maubourg. Eventually, these sales should finance the construction of the "Pentagon" à la française, in the 15earrondissement.
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