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Council set to invest millions in commercial property

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

Dan Cooper

Dan Cooper

dan.cooper@newburynews.co.uk

Contact:

01635 886632

Council tax set to rise by four per cent from April

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.

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Article comments

  • grumpy

    20/10/2016 - 08:08

    I thought they were cash strapped ?? And commercial property is such a good investment !?? I don't think so. How many commercial buildings / offices are empty or are being converted into flats ?

    Reply