LGC has conducted extensive research into the growing trend for councils to invest in property to generate additional income to fund services. In total 265 of England’s 354 local authorities responded to a freedom of information request. Of these 94 said that since 2010 they had invested in property specifically to generate an income. Details of these councils’ investments are shown on the map. The key below provides further information.
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Investment property value (£)*
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For most councils this figure will be the same as the investment property listed in their annual accounts. Differences may occur if a property has been purchased in the 2017-18 financial year or if a council has provided a different figure.
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Purchased since 2010 (£)**
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LGC asked councils to state the value of property purchased since 2010 specifically to generate an income. It is likely that more councils than listed here purchased property that provides some rental income but this was not the main reason for the purchase. In total 94 of the 265 councils that responded to LGC’s FOI request said they had invested in property to generate an income, although they often cited additional benefits, such as regeneration, as another motivating factor.
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Rental yield (%)*
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Where a range was given LGC has taken a mid point. Some councils were unable to provide this information (U) and others witheld it on commercial grounds.
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Value of property owned outside council area (£)****
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This figure refers to the all the investment property owned by councils outside of their area, some of which may have been purchased since 2010 or may have been owned prior to that often for decades or even a centrury or more.
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Mapped: councils making revenue raising property investments
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Mansfield: Only out of area investments will support services
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Plymouth: Investments are driven by drive to boost the local economy
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Revealed: the councils spending millions on investment property
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