The property problem
Lucy Woods advises a ‘pragmatic and sensible’ approach to managing the recommendations due to emerge from the public accounts committee inquiry into councils’ investments in commercial property.
MPs launch inquiry on local authority commercial investment
An inquiry examining investments in commercial property by councils has been launched by the public spending watchdog.
Flybe collapse hits council-owned airports
The airline entered administration this morning, leading to the grounding of all flights.
Government to review Public Works Loan Board
Two departments are looking at the ‘rates and flexibilities’ the lender offers councils.
Alarm bells over £6.6bn property spending spree
Auditors have suggested an overhaul of council borrowing and investment rules may be needed after ‘alarm bells’ were triggered by billions of pounds of spending.
Doubts cast over council's £100m investment plan
West Berkshire Council is to review its property investment strategy.
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.
Don't seek to frustrate legitimate use of powers by the back door
Councils must have regard to the MHCLG guidance on investments, says Ian Miller. But a power to give guidance 'is not a power to limit councils' statutory powers by diktat', he adds.
Sunderland receives £100m ‘vote of confidence'
Sunderland City Council’s city centre masterplan has received a massive boost from a £100m deal with Legal & General.
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’.
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.
Growth in council loans and commercialism boosts Arlingclose profits
Financial consultancy Arlingclose has reported a growth in profits, boosted by councils’ ‘overtly commercial agenda’.
Navigating the legal risks of investing in property
Some local government treasurers are asking if today's property investment companies will be tomorrow's Icelandic banks, says Helen Randall. She outlines the legal pitfalls to navigate and the key commercial aspects to consider.
Derbyshire considers new joint ventures with Suffolk
Derbyshire CC is considering plans to launch two joint ventures with Suffolk CC.
County announces two major property investments
Cambridgeshire CC has announced the details of two major property investments in deals worth more than £60m.
Morgan Sindall capitalises on council contract wins
Morgan Sindall’s property services arm has helped bolster the group’s profit margins this year.
£1m boost from commercial investment
A plan to invest in commercial property has brought in more than £1m extra in rent over the past year to Basingstoke & Deane BC.
Public sector drives growth at Galliford Try
Developments with local authorities have delivered a boost to construction firm Galliford Try.
Transforming town centres the public/private way
Allan Lockhart says councils are already strategically acquiring retail and commercial assets in the town centres – working with sector specialists to drive positive change and meet communities’ specific needs.
Why we need to start talking about town centre regeneration
Strong local leadership is needed to ensure that the transformation required to create vibrant town centres is one which benefits the wider community, says Tim Reade of CIPFA.