William Eichler 16 November 2023

Middlesbrough set to sell off buildings to avoid bankruptcy

Middlesbrough set to sell off buildings to avoid bankruptcy  image
Image: Red Carpet 2020 / Shutterstock.com.

Middlesbrough Council is considering selling off several of its buildings in an effort to avoid having to issue a bankruptcy notice.

A report to senior councillors in August warned the council was in danger of issuing a section 114 as it faced a predicted overspend of its budget of almost £12m.

An asset review, which will be discussed by the council’s executive next week, has proposed the closure of council-owned buildings and assets, including community centres, car parks and a golf centre.

The sale of these assets could bring in an estimated £33m, according to the report.

The longer-term future of the town hall will be under consideration.

A Middlesbrough Council spokesperson said: ‘The asset review is necessary due to the critically low level of reserves we inherited from the year ending 31st March 2023, the need to set a balanced budget over the medium term and the requirement to fund the transformation of services as set out by the external auditor.’

SIGN UP
For your free daily news bulletin
Highways jobs

Traffic Management Officer - WMF2114e

Westmorland and Furness Council
£37,035 - £37,938
Are you an experienced and motivated professional looking to take the next step in your traffic management career? Cumbria / Various
Recuriter: Westmorland and Furness Council

Peripatetic Support Assistant

Wakefield Council
£16,415.00 - £16,675.23 Grade 4, 24.5 hours, Permanent
Are you caring, compassionate, and friendly? Wakefield, West Yorkshire
Recuriter: Wakefield Council

Peripatetic Support Assistant

Wakefield Council
£14,070.00 - £14,293.05 Grade 4, 21 hours, Permanent
Are you caring, compassionate, and friendly? Wakefield, West Yorkshire
Recuriter: Wakefield Council

Recruitment Support Officer

Durham County Council
£25,584 to £27,711 p.a. (Grade 5) pay award pending
We are looking for a Recruitment Support Officer to join our team on a temporary basis until 31 March 2026. In this role, you will provide a comprehe Spennymoor
Recuriter: Durham County Council

Enforcement Assistant

Durham County Council
£25,584 to £27,711 p.a. (Grade 5) Pay award pending
Durham County Council is a forward looking Council that recognises the need for passionate people who share our enthusiasm to deliver fantastic servic Spennymoor
Recuriter: Durham County Council
Linkedin Banner