Land and buildings

5.10 Following the assignment of the Trevelyan House lease, the Group's main land and building assets are

1 Horse Guards Road Offices, London SW1, occupied by core Treasury, GSS and OGC's London staff, and held under a PFI contract running until 2037, under which the contractor is responsible for maintenance, lifecycle replacement costs and ongoing services

Eastcheap Court, London EC3, occupied by the DMO and held under an effective full repairing and insuring lease until 2021

Rosebery Court, Norwich, occupied by OGC and GSS staff and held under a full repairing and insuring lease until 24 June 2009.

5.11 The main plank of the Group's asset management strategy is the rationalization of the estate, maximising the use of 1 Horse Guards Road and enabling the disposal of other London premises. This strategy has been developed since the Treasury moved back into the redeveloped 1 Horse Guards Road building in 2002; utilisation of 1 Horse Guards Road has increased from around 1350 to 1680 workstations over that period. Before redevelopment, the Treasury had occupied the largest part of the Government Offices Great George Street site, but the more effective use of space after refurbishment freed the 100 Parliament Street end of the site for disposal to HM Revenue and Customs in 2004-05, who occupy it with some 1600 workstations.