Dan Peters 15 April 2019

Council buys office to generate income

Council buys office to generate income image

South Cambridgeshire DC has made a £13m investment in a high-quality office building to generate an initial net return of around 5.6%.

Lead cabinet member for finance, Cllr John Williams, said: ‘This investment will give us a good return, which we will re-invest into frontline services for many years.

'By making sensible investment decisions like this we are helping to protect vital frontline services, like recycling and waste, housing support for vulnerable people and planning, in the face of cuts to national funding.’

By the end of March 2024, the council’s investments are forecasted to return an income of just over £5m a year, a quarter of the authority’s services budget.

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