Budget 2016: Government confirms plans to consult on privatisation of Land Registry, with Advent International and others interested
George Osborne today confirmed plans to privatise the Land Registry.
The proposed sale was announced by the chancellor in his Budget, delivered this afternoon.
CityAM understands buyout firm Advent International and others are considering bids for the agency, which has previously been valued at £1.2bn.
Read more: Firms consider bidding for £1.2bn-valued Land Registry
The Budget document said: "[T]he government will shortly consult on options to move the operations of the Land Registry to the private sector."
Trade unions have previously warned the government against selling the Land Registry, which holds the titles for most of England and Wales’s land.
It emerged last November that the government had asked Rothschild, the investment bank, to consider options for selling Land Registry.
Ministers had already considered privatising part of the Land Registry, but in the coalition government former business secretary Vince Cable argued against a sell-off.
[custom id="135"]