commercial investment

Croydon returns to drawing board on regeneration plans

17/08/2021

The council maintains delayed plans to develop a Westfield shopping centre are going ahead, despite planning permission for the development having expired.

CIPFA to publish strengthened local government Prudential Code

25/06/2021

A new code of practice to ensure local authorities’ financial plans are 'affordable, prudent and sustainable' will be published by the end of the year.

Councils urged to 'sharpen commercial edge'

15/06/2021

A new report has argued that allowing councils to sharpen their commercial edge will ‘unlock immense latent place potential’ and help ‘galvanise recovery’.

Proposal for stronger local government Prudential Code

02/02/2021

Proposals to strengthen the Prudential Code and prevent local authorities from borrowing to generate yield have been put forward by CIPFA.

Nottingham plans £100m asset sale

19/01/2021

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

Nottingham agrees governance overhaul

28/08/2020

The council will implement a raft of measures in a bid to improve oversight of its companies after its energy firm incurred a £24m loss.

Ministry was 'blind' to council investment risks says watchdog

13/07/2020

Ministers have been blind to the risk of commercial investments by councils, Parliament’s spending watchdog has claimed.

Council to sell Bristol Energy

03/06/2020

Bristol City Council has given the go-ahead to put its loss-making energy company up for sale.

Flybe collapse hits council-owned airports

05/03/2020

The airline entered administration this morning, leading to the grounding of all flights.

London borough rejects insourcing children’s services

11/12/2019

Kingston LBC had considered returning services from a wholly-owned company when their contract ends in 2021.

Portsmouth’s energy firm sale falls through

29/08/2019

Portsmouth City Council has admitted defeat in its search for a buyer for its energy company.

Council buys office to generate income

15/04/2019

South Cambridgeshire DC has made a £13m investment in a high-quality office building to generate an initial net return of around 5.6%.

Harrogate to launch housing company

07/03/2019

Harrogate BC’s housing company will be up and running next month.

Reform outsourcing to avoid £30bn bill, think-tank warns

30/10/2018

Bringing outsourced services in-house would cost local government billions, a think-tank has calculated.

Channel 4 announces list of potential locations for new national headquarters

24/07/2018

Channel 4 has announced that Leeds, Greater Manchester and Birmingham are still in the running to host its new national headquarters.

Councils spend £3.8bn on commercial property, study reveals

12/04/2018

Local authorities spent nearly £4bn on commercial property assets in recent years, a new study into the issues facing the UK’s town centres has revealed.

Councils lack PFI management skills, claims report

18/01/2018

Local authorities lack the skills necessary to manage Private Finance Initiative (PFI) contracts and risk not getting the best value for money, new research has warned.

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