Guildford drops student housing investment plan
0Guildford Borough Council has dropped plans to borrow from the Public Works Loan Board to fund an £81m investment in student housing.
Council leader Paul Spooner told website Surrey Live the investment had been dropped because it would not provide an adequate return for the council.
He said: “For this to be worthwhile for the council the income over the set period would need to justify the initial investment as the council would not own the asset and at the end of the set period the income would stop and the council would have no responsibility for the asset that is owned by a third party.
“The council was not satisfied on the return on investment over the period and hence the budget provision is not necessary.”
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