Martin Ford 19 January 2021

Nottingham plans £100m asset sale

Nottingham plans £100m asset sale image

Nottingham City Council has identified £100m of assets for sale as part of a plan to bring its finances under control.

The recovery and improvement plan, ordered by the Government following a rapid review last year, also proposed closing up to three companies, a complete rewriting of the council's constitution, a management restructure and efficiency savings.

Nottingham's plan will be overseen by an external improvement and assurance board chaired by Sir Tony Redmond, with members appointed by the Government, including council leader Cllr David Mellen.

Council chief executive Mel Barrett said: 'We recognise the seriousness of the financial, governance and operational challenges we face, and it is going to take a significant collective effort from all at the council to address them and reach a sustainable position.’

A pipeline of around £100m of council-owned land and properties has already been identified that ‘can be disposed of with little revenue consequence,’ which could be used to ease budget pressures, pay down existing debt and fund a transformation programme.

The council has also warned 272 full-time jobs - 80 of which are vacancies - could be cut to help it deliver a balanced the budget for 2021/22.

SIGN UP
For your free daily news bulletin
Highways jobs

Social Worker - Adult Social Care (CLDT)

Bolton Council
£31,895
This is a permanent Social Work role in Adult Social Care. Bolton, Greater Manchester
Recuriter: Bolton Council

Principal Programme Officer

Bolton Council
£35,336
Do you enjoy variety and change? Can you keep your eye on the detail whilst also thinking strategically? Bolton, Greater Manchester
Recuriter: Bolton Council

IDT Junior Developer

Telford & Wrekin Council
£28,226 - £30,095
Telford & Wrekin Council are seeking an enthusiastic and highly motivated Junior Developer. Telford, Shropshire
Recuriter: Telford & Wrekin Council

Activities Leader (Outdoor Adventurous Activities)

Leicestershire County Council
£20,856
Lead activities and ensure that delivery of programmes are of a high standard. Leicester, Leicestershire
Recuriter: Leicestershire County Council

Transition Support Worker (Complex Needs)

Leicestershire County Council
£19,701
This is an exciting opportunity for to work with an experienced team delivering high quality learning opportunities and care. Leicester, Leicestershire
Recuriter: Leicestershire County Council

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.