Income generation
Bexley slashes development company housebuilding target
Bexley LBC’s wholly-owned housing company has more than halved the number of homes it plans to deliver.
Future Forum North: Call for councils to ‘bust down housebuilding cartel’
Local government has been urged to take on private housebuilders to unleash financial and social benefits.
CIPFA in further property investment crackdown
The prudential code has been further clarified to ‘ensure that responsible decisions are made with transparency and financial sustainability in mind’.
Isle of Wight looks for trading company partner
Norse is the hot favourite to partner Isle of Wight Council in launching a new trading company.
Council energy supplier threatened with licence revocation
Nottingham City Council-owned Robin Hood Energy missed a deadline to pay watchdog Ofgem £9.4m.
Vinci replaces Interserve on multi-million pound York Guildhall project
Vinci has been brought in to complete a major restoration project following the departure of Interserve.
South Somerset trading company targets gap in market
South Somerset DC hopes to generate income from new housing developments through a new trading company.
Council invests in Glastonbury
South Somerset DC is expected to achieve a net initial yield of 7.19% after buying the Glastonbury branch of home improvement chain B&Q for £4.4m.
Dawes renews commercialisation warnings
The Ministry of Housing, Communities and Local Government’s (MHCLG) top civil servant has renewed warnings about tougher Whitehall action to prevent risky commercial ventures by councils.
Council snaps up office block
South Somerset DC hopes to make a net initial yield of 7.27% after buying a 12-year-old four-story office block in Milton Keynes for £2.9m.
Profits hike for Telford & Wrekin-owned property firm
Telford & Wrekin Council’s wholly-owned housing provider Nuplace has announced a jump in profits of almost 50%.
Income generation project rakes in £5m
A project launched by Test Valley BC five years ago to combat a decline in Government grants has generated more than £5m for the authority.
Birmingham unveils plans to build thousands of homes in next decade
Birmingham City Council’s housebuilding company has announced plans to build almost 3,000 new homes by 2029.
Education enterprise to be formed by Redbridge
Redbridge LBC is to form a joint venture with schools in the borough in a bid to generate more income for the council.
'Dumb money' rejection as shopping centre purchases continue
Councils have rejected the idea that local authority investment in shopping centres is ‘dumb money’ as they continue to show an interest in purchases.
Council buys office to generate income
South Cambridgeshire DC has made a £13m investment in a high-quality office building to generate an initial net return of around 5.6%.
Bristol energy company labelled a 'waste of money'
Bristol City Council has sparked controversy by pressing ahead with further investment in its energy company.
Council snaps up Government building 300 miles away
East Hampshire DC has increased its property portfolio to more than £110m after buying a Government building more than 300 miles away in Sunderland.
Greenwich insources services from struggling companies
Greenwich LBC is to rein in operations at its two companies as they struggle to compete in the outsourcing sector.
Portsmouth to create development company
Senior councillors in Portsmouth are due to vote on proposals to establish an authority-owned development company.