£35bn public property sale

Published 01st Apr 2010

Councils and other public sector bodies plan to dispose of up to £35bn of property in the next decade, a government report has said

As Property Week revealed (19.03.10), the government plans a much bigger sale than the £20bn it outlined in April 2009’s Budget to help reduce the £167bn national debt.

On 25 March, the Treasury outlined plans to create local property vehicles to manage publicly owned property. Its Total Place report says this could raise up to £35bn over the next decade.

The figure is based on pilot schemes in Kent and Worcestershire, where co-location of staff across different public agencies and “joined-up” estates management have been found to save large sums.

Source: ' Property Week '

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