Bracknell invests outside its boundaries
0Bracknell 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.”
