Council set to invest millions in commercial property

Joint venture with Greenham Common Trust will generate long term income for council

WEST Berkshire Council is in discussions with the Greenham Common Trust (GCT) to enter into a multi-million pound joint commercial property venture as it looks at ways to generate long-term income.

Talks are under way to finalise a plan that would see the council invest capital funds alongside the trust to purchase commercial property.

The council says that all the income generated will be spent in West Berkshire to protect the council’s frontline services and Greenham Common Trust’s charitable activities.

Full details of how much the council and GCT are investing is expected to be made public after councillors are briefed later this week.

James Fredrickson, West Berkshire Council’s executive member for corporate services and external affairs, said: “In light of the savings the council has made, proactively taking advantage of low interest rates to invest in a joint commercial venture is a sound way to generate income.

For more see this week's Newbury Weekly News.