A huge drop in the value of Spelthorne Borough Council’s commercial investments has been revealed in its draft statement of accounts for 2022-23, but the income they generate is “holding up well”.
Spelthorne Borough Council is budgeting for an increase in income from its commercial property portfolio during the current financial year, enabling it to underspend its budget by £1.5m.
Spelthorne Borough Council has received 90% of its March quarter rent due on its commercial assets, despite the economic disruption caused by the coronavirus pandemic.
