South Somerset property spend reaches £50m

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South Somerset District Council has increased its spend on investment property to £50m.

The council recently added to its commercial properties with the acquisition of the Hasbro warehouse in Newport, bought for £2.78m. The council has allocated £75m for the investment fund, which already includes an M&S store in Yeovil.

Cllr John Clark, portfolio holder for economic development, said: “We are pleased to report that our investments to date and projected gross and net returns are all on target.”

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