Laura Sharman 02 March 2018

New retail park to generate £1m a year for council

A new retail park in Portsmouth will generate £1m per year for the city council in rental income.

Portsmouth Retail Park is the eleventh purchase in the council’s property investment portfolio, which generates £6.6m per year for council services.

Leader of the council, cllr Donna Jones, said: ‘Our property investment strategy is all about generating money for the local services that are most important to local people so for us to be able to find the opportunity for such a strong investment so close to home is fantastic news for us and for the people of Portsmouth.

‘The added bonus of Portsmouth Retail Park is that it will boost jobs and the local economy at the same time as bringing in £1m every year in rental income. This is money that will make a real difference at a time when councils continue to face funding challenges.’

The council is set to make further property purchases in the coming months.

SIGN UP
For your free daily news bulletin
Highways jobs

Billing and Compliance Officer - Basildon Borough Council

Essex County Council
Up to £20.0000 per hour
Council Tax Billing Officer - Basildon Borough CouncilBasildon, Essex£20 per Hour PAYE / £25.65 Umbrella Full Time, Temporary Essex County Council (EC England, Essex, Basildon
Recuriter: Essex County Council

Senior Health and Safety Risk Adviser

North Yorkshire Council
£42,839- £47,181 per annum
Are you someone who is able to make impactful decisions? Selby, North Yorkshire
Recuriter: North Yorkshire Council

Senior Health and Safety Risk Adviser

North Yorkshire Council
£42,839- £47,181 per annum
Are you someone who is able to make impactful decisions? Northallerton, North Yorkshire
Recuriter: North Yorkshire Council

Fostering Panel Advisor

Durham County Council
Grade 13 - £47,181 - £51,356
This is a brilliant opportunity to join our Fostering Service in a brand-new role focused on supporting our Fostering Panels.   WHAT IS INVOLVED?    A Seaham
Recuriter: Durham County Council

School Crossing Patrol

Durham County Council
Grade 1 £3,979 (approx.) £12.45 per hour
Join our School Crossing Patrol Service! Are you punctual and reliable? Do you have good communication skills and a strong sense of community spirit? Durham
Recuriter: Durham County Council
Linkedin Banner