http://www.european-services-strategy.org.uk/outsourcing-ppp-library/contract-and-privatisation-failures/sale-and-lease-back-of-government-buildings-of/ The New Labour government, keen to establish a market in the sale and lease-back of government buildings, announced a A$9 billion (£3.6 billion) private finance initiative deal with Mapeley Group in March 2001. It included 700 buildings of the Inland Revenue, HM Customs and Excise, and the Valuation Office Agency in the Strategic Transfer of the Estate to the Private Sector (STEPS) project. Mapeley immediately transferred the freehold and long-lease properties to Bermuda. en Copyright © 1998-2012 European Services Strategy Unit 2008-11-15T15:45:30Z European Services Strategy Unit, Duagh, Camp, Tralee, County Kerry, Ireland. Dexter Whitfield Offshoring, sale and leaseback, privatisation, government building, offices, tax haven, 2001-04-13T12:00Z 1 daily