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Bracknell invests outside its boundaries

0
  • by Editor
  • in 151 News · Funding
  • — 13 Feb, 2019

Bracknell Forest Council is close to completing on a £90m property investment strategy with the deals so far outside the borough.

The council revealed in plans for its asset management plan for 2019-22 that it has invested £86m in commercial property to diversify its financial strategy.

The council started the portfolio in 2016 which includes offices, warehousing and a retail park and which generates a total gross income of around £4.5m per annum with a net income after borrowing costs of £3m.

The council is looking at advertising hoardings and phone masts as ways to further increase income generation.

A report to councillors said: “The overall aim for the portfolio is to maximise income, which not only means enhancing the rent from individual properties but, also taking advantage of other income generation opportunities.”

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