Laura Sharman 05 September 2019

County announces two major property investments

County announces two major property investments image

Cambridgeshire County Council has announced the details of two major property investments in deals worth over £60m.

The council has agreed to invest £51.4m in a 986 year lease of the Tesco site in Cheddar’s Lane, which will generate enough revenue to employ 56 social workers every year.

It has also purchased a ten-acre industrial estate in Peterborough for £11.5m, which will provide a return on investment of 4.5%-6% per year.

Cllr Josh Schumann, chairman of the council’s commercial and investment committee, said: 'This purchase is a clear part of the council’s investment strategy, which sees us seeking to invest in areas of the county and market sectors which support the aims of the council – but also give us a good rate of return in line with our investment objectives.

'To mitigate risks we are always seeking to diversifying our portfolio – and are delighted that in the last month we have been able to add these two really sound investments in either different sectors or different parts of the county, bringing to a total of four excellent investments made over the past twelve months.'

Photo: flickr/kaet44

SIGN UP
For your free daily news bulletin
Highways jobs

Child and Family Support Worker

Essex County Council
Plus Excellent Benefits
The purpose of this role is to work within frontline teams to support the delivery of effective Children's Social Work. England, Essex, Chelmsford
Recuriter: Essex County Council

Part Time Community Rail Partnership Officer

Essex County Council
£24000 - £26275 per annum + Plus Excellent Benefits Package
Please note that this position is being offer on a part time basis, covering 23 hours per week. Working Pattern TBC. England, Essex, Rochford
Recuriter: Essex County Council

Duty Officer

Telford & Wrekin Council
£19,554 - £21,166
The successful candidate will work across a rota pattern that includes regular evening and weekend working and will be responsible for... Telford, Shropshire
Recuriter: Telford & Wrekin Council

Business Support Officer - Learning and Early Support

Kirklees Metropolitan Council
£19,554 - £21,166
Duties will include... Kirklees, West Yorkshire
Recuriter: Kirklees Metropolitan Council

Plant and Motor Vehicle Technician - 3 jobs

Kirklees Metropolitan Council
£24,799 - £26,317
You will carry out vehicle inspections, servicing, maintenance and repairs to vehicles and plants operated by Kirklees Council in... Kirklees, West Yorkshire
Recuriter: Kirklees Metropolitan Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how public sector organisations can unlock the hidden value in their land, and why a new approach to construction could help boost the outcomes of the Government’s One Public Estate programme.

The December issue also considers why learnings from ancient cities could provide the key to promoting wellbeing in the modern built environment. It also contains a case study on how the London Borough of Westminster has provided high quality care for the elderly alongside a block of luxury apartments.

Register for your free digital issue