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

Assistant Director Planning (Chief Planning Officer)

Mansfield District Council
up to £72,011 (pay award pending)
We are seeking an experienced chief planning officer. Mansfield, Nottinghamshire
Recuriter: Mansfield District Council

Service Director – People & Culture

Cambridgeshire County Council
Up to £115k
Cambridgeshire is a great place to work and live. Cambridgeshire
Recuriter: Cambridgeshire County Council

Director of Finance (Section 151 Officer)

South & East Lincolnshire Councils Partnership
£108,657 - £134,787 pa
Are you a visionary finance leader ready to make a lasting impact? Lincolnshire
Recuriter: South & East Lincolnshire Councils Partnership

Team Leader, Short Breaks Service

Durham County Council
Grade 8 £31,586 - £35,235
Salary
Recuriter: Durham County Council

Resourcing and Workforce Planning Officer

Durham County Council
£34,314 to £37,938 p.a. (Grade 9) Pay award pending
Are you passionate about recruitment, talent management, and workforce planning? Do you thrive on supporting managers, improving processes, and deliv Spennymoor
Recuriter: Durham County Council
Linkedin Banner