TOWN Hall chiefs at Warrington are being urged to sell-off one of the 17 investment properties the borough council has acquired since 2016.
A report to be presented to the council’s cabinet next Monday , February 12, says the authority has been approached by a private investor interest in purchasing one of the properties for a figure “significantly larger” than the council paid for it.
Details of the property and the amount involved are not disclosed in the open part of the meeting.
But the council has acquired 17 investment properties, 11 of which are in Warrington and six of which are in the wider North West region.
The report, to be presented by Cllr Denis Matthews, Warrington Borough Council cabinet member for corporate finance, says the sale would generate a a capital receipt significantly larger than the council paid for the property and risks associated with the property around the tenant covenant strength and break clause would be removed.
The capital receipt could be used to generate a revenue stream to replace the lost rental income following the sale.
Risks associated with the disposal of the property are set out in the private part of Cllr Matthews’ report.
The properties acquired by the council since 2016 include logistics units, supermarkets, offices and industrial buildings and small proportion of leisure and non-food retail units.
11 Comments
I can’t see WBC making a massive profit margin on these purchases.
Interesting to note that some are leisure facilities ? YET WBC can’t be bothered to update Broomfield s Recreation centre at Appleton .
We want a full transparent explanation and findings of these purchases and sales WBC
Throw the cloak and dagger in the bin
What’s happened to the article regarding the indifference between the conservatives and lib dems on Warrington council over the £1.8 billion debt the residents of Warrington have incurred because of the Labour/ lib dems incompetence
Stories normally only stay on the home page for 24 hours maximum unless they make the top 10. But they are all still online in the news column
https://www.warrington-worldwide.co.uk/category/news/
https://www.warrington-worldwide.co.uk/2024/02/05/under-fire-tories-hit-back-at-toothless-lib-dems-lack-of-scrutiny-over-bankruptcy-claims/
I’m sure with 10 public comments made on the subject far in excess of any other article that was published yesterday how can it not be still on the page ???
Once again WBC controlling the local press !!!
I’m sorry but you are completely inaccurate in your assumption. Where stories appear is an automated process and not controlled by the number of comments. It is an automated process based on the time of publication, the number of stories published. The top best-read stories are based on viewing figures over a whole week. I’m afraid we are not going to change the way we publish after 25 years to suit your agenda. The assumption you have that we are controlled by WBC is woefully inaccurate.
If you really think there is any chance of WBC controlling or influencing Warrington Worldwide then you must live under a rock. The most honest, well-researched, and unbiased media source the town has, thank goodness. As Gary has said, you obviously know nothing of how these things work.
I have been asked to make an apology regarding one of my remarks in this article
I am sincerely sorry if my remark has offended the person involved
Mr Bennington, that apology was definitely deserved. Nobody should fling unsubstantiated accusations around – I know this is common nowadays, but it’s still wrong.
Please try to avoid such outbursts, it isn’t fair and it certainly isn’t appropriate for a balanced outlet such as WW.
Gary you are completely wrong in your view that WW “drop” stories out of the reading list . That is the way the WG works .
1. They publish this story at 2300
2. When nobody comments their algorithm drops it done the reading list
3. Once it’s off the front page nobody reads it so it plummets even further
WW Publish stories regularly as they happen throughout the day and they stay in the story reel for a week .
You have got your facts wrong here – apology may be in order ?
Thanks Bill – the stories stay in our story news feed forever! By using the site search facility ALL stories are available.
Warrington Worldwide is the most credible in the moment reporting media in Warrington , I think you are confusing Warrington Worldwide with Warrington Guardian. Warrington Worldwide truly represents its residents . Love reading the daily reporting .