William Eichler 27 August 2024

Cash-strapped Brum sells off £56m of assets

Cash-strapped Brum sells off £56m of assets image
Image: Juan Garcia Hinojosa / Shutterstock.com.

Birmingham City Council has sold off an estimated £56m of assets to help tackle its financial challenges.

Since January the local authority has disposed of properties and land, including a city centre car park and a former children's centre.

The former Wheels site in Bordesley Green where a new Birmingham City FC stadium had been proposed has also been sold for more than £30m.

Other properties which have been sold off since the beginning of year include The Punchbowl in Kinghurst and The Elegance Suite in Nechells, according to the BBC.

The council effectively declared bankruptcy last year, following equal pay claims of up to £760m and an IT system overspend of £80m.

Check out: The financial crisis in Birmingham City Council and Selling the family silver.

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