Basingstoke and Deane Borough Council is looking to invest £30m in commercial property in order to enhance its revenue streams.
The council has instructed Cushman & Wakefield to find investments to add to its £240m portfolio of commercial property across the borough. It has a net income of about £16.5m from its current assets.
Cushman & Wakefield said its focus is on complementary assets within the borough, but it will consider opportunities in the wider area as well.
John Izett, Basingstoke and Deane Borough Council’s cabinet member for property and development, said: “Enhancing the council’s long-term financial stability is a key priority to maintain good services for our residents. This comes at a time of severe pressure on council finances, not least from reductions of government grants and continued low returns from investments in gilts and bonds.”
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