Property investment reaps 7.1% return for Test Valley
0Test Valley Borough Council generated £1.5m in rental income from its property investments during the last financial year. The council announced that the sum amounts to an average return on investment of 7.2% across the portfolio.
Test Valley’s finance portfolio holder, Peter Giddings, said: “This additional income has been generated by investing the cash reserves held by the council in projects that will yield greater returns than the authority would have received from the money simply sitting in the bank. In 2017–18, this equated to an additional £1.2m.”
Completed projects accounted for investments of £26.519m at 31 March, 2018. Of that, £7.769m was completed in 2017–18, the council said. A further £6.2m of projects are in the pipeline for the current year, it added.
