Council's property investments increase in value by £6m

West Berkshire Council’s property investments have gone up in value by more than £6m.

They are now worth £72.6m.

It has had 17 properties valued, with the biggest profit showing as the retail warehouse in Chippenham’s Bath Road, which has gone up by £2.25m.

The council also owns a petrol station in Tipton, Yorkshire, which has increased in value by £65,000, as well as an Aldi/Iceland building in the North East.

It also owns a Sainsbury’s in Northallerton, Yorkshire, and some business park buildings in Newbury and Nottingham.

The Lloyds Bank it owns in Eastbourne is the only one not showing an increase in value.

Local investments in West Berkshire have increased in value by around £2m.

A financial report to the council’s scrutiny committee shows property on the London Road Industrial Estate to be its most expensive and best-performing asset, with figures showing it has increased in value from £7.85m to £9.65m in a year.

Both of its small holding farms at Grazeley have gone up by £100,000 each to £2.9m.

The council’s long-term assets have grown by £7.9m to £711.3m as of March 31, 2022.