Laura Sharman 04 July 2017

Councils spent £1bn on property assets last year to boost income

Local authorities spent more than £1bn acquiring property in 2016 as a way of generating new revenue, according to a new report published today.

The report, published by APSE and the Chartered Institute of Public Finance and Accountancy (CIPFA), shows that more councils are purchasing property for investment purposes.

It shows how some councils are using this revenue to support public services, with a small number arguing it will allow them to become fully independent of national grant funding.

‘This report shows that property investment, if conducted properly, provides councils with the opportunity to raise substantial funds,’ said APSE chief executive Paul O’Brien.

‘APSE is not arguing that all councils can use this to meet their budget needs, but it is a further mechanism that councils can deploy to generate much needed funding to plug the gaps created by ongoing austerity. Essentially, what we are seeing is investment for social purpose.’

The report - Bricks – Mortar – Money: Property investment as a potential means of securing an additional and sustainable source of revenue - brings together advice, support and case studies on this topic.

What’s happening inside the LGPS? image

What’s happening inside the LGPS?

Get the most informed take on the challenges and opportunities that substantial reform will bring at this year’s PLSA Local Authority Conference.
SIGN UP
For your free daily news bulletin
Highways jobs

Registered Building Inspector (Band 2/Grade 7)

Health and Safety Executive
£60,760 - £65,776
The Building Safety Regulator (BSR) is transforming building safety regulation across England. United Kingdom / various Locations
Recuriter: Health and Safety Executive

Revenues and Recovery Team Leader

Ashfield District Council
£37,938 - £40,476 per annum (pay award pending)
We have an exciting opportunity for a Revenues and Recovery Team Leader Sutton-In-Ashfield, Nottinghamshire
Recuriter: Ashfield District Council

Housing Options Officer

Ashfield District Council
£31,067 - £33,366 per annum (pay award pending)
Do you want to make a real difference to the lives of residents in housing need? Sutton-In-Ashfield, Nottinghamshire
Recuriter: Ashfield District Council

Building Services Operative

Ashfield District Council
£25,584 - £27,269 per annum (pay award pending)
The Facilities team are looking to recruit an enthusiastic individual Sutton-In-Ashfield, Nottinghamshire
Recuriter: Ashfield District Council

Street Cleansing Technician (CDC)

City Of Doncaster Council
Grade 5, £24,397 per annum (pay award pending)
Do you enjoy working outside, as part of a team that make a direct difference to the communities of Doncaster? Doncaster, South Yorkshire
Recuriter: City Of Doncaster Council
Linkedin Banner