West Berkshire Council to sell off Aldi building it owns in Yorkshire

West Berkshire Council’s commercial property sell off continues this week.

The executive committee is being asked to tick the box to sell of one of the supermarket buildings it owns in the north east of England.

The Aldi supermarket in the Cleveland Gate Retail Park in Guisborough is the latest of the council’s commercial property portfolio to go to the estate agents.

Earlier this year, it sold a Sainsbury’s building in Northallerton.

The council is doing it to boost its dwindling coffers, and argues that while the £62m overall portfolio makes £22m for it, the costs of maintenance, and the interest rates it pays on its own loans make a compelling argument to sell up.

The council will use resulting capital receipts to future fund capital financing of investment in the council’s core estate and transformation programmes.

Following the sale of the Guisborough building and site, the council has eight more commercial properties to sell off.

The executive committee is due to meet tomorrow (Thursday).