External auditors for Spelthorne Borough Council have issued a rare public interest report amid concerns the authority’s historical commercial investment breached local government regulations.
The value of two retail investments made by Surrey County Council in 2017 has plummeted by tens of millions of pounds – to less than half of the original purchase price – due to Covid-19.
A district council in Somerset, which has spent more than £40m in commercial property outside of its boundaries, has abandoned further investment plans, amid proposed borrowing restrictions in the...
Mansfield District Council is set to sell a hotel it owns in Edinburgh, after the Covid-19 lockdown led to the operator saying the site was ‘unsustainable’.
A borough council failed to carry out proper investigations before spending £100m on a shopping centre and surrounding properties in its area, according to an independent report.
Reading Borough Council has scrapped plans to add to its commercial property portfolio due to Covid-19 and changes to Public Works Loan Board lending rules.
Council investment in buying buildings dropped by 56% in the first quarter compared to last year, while spending on new construction projects fell just 14% according to government data.
