Councillors told ‘sell and invest’ plan is paying dividends

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A programme of selling assets to fund new builds for business is paying dividends councillors have been told.

An update on the performance of the Portfolio Management Plan which disposes of land, shops and offices in town hall ownership and re-invests the cash developing new property opportunities across the district for business was noted when the executive met.

The council’s commercial and industrial property holdings were worth nearly £5 million in income last year. At the moment 95 per cent are let and ‘home’ to around 500 businesses.

Rhona Geisler, director of development services, said: “The council’s PMP is proving successful in modernising its business properties. It enables investors to refurbish existing buildings to create modern fit-for-purpose space for small local businesses to locate, grow and create jobs and the council to re-invest in the construction and letting of new business space to assist business growth in the area.”