Laura Sharman 04 July 2017

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

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

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.

SIGN UP
For your free daily news bulletin
Highways jobs

Head of Highways & Transport

City of York Council
£58,568 - £66,923 per annum
This is hugely exciting time to join the Council in this new role as the strategic lead for our Highways and Transport service. York, North Yorkshire
Recuriter: City of York Council

Youth & Community Based Commissioner

Essex County Council
£19308 - £19631 per annum
Youth & Community Based Commissioner Permanent, Part Time £19,308 to £19,631 per annum (FTE) Location
Recuriter: Essex County Council

Social Worker - Family Support & Protection Team

Essex County Council
Up to £207 per day + Umbrella
Family Operations delivers direct provision of services relating to vulnerable children, young people and complex families. These services will be del England, Essex, Harlow
Recuriter: Essex County Council

District Youth and Community Commissioner in Training

Essex County Council
£25313 - £28001 per annum
District Youth and Community Commissioner in Training Permanent, Full Time £25,313 - £28,001 Per Annum Location
Recuriter: Essex County Council

Social Worker - Early Intervention Team

Essex County Council
Up to £207 per day + Umbrella
*** This is a temporary position to start as soon as possible based at Colchester Hospital ***About the RoleWorking to support adults, and their famil England, Essex, Colchester
Recuriter: Essex County Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue