Rushcliffe Borough Council adds to property portfolio

Rushcliffe Borough Council has added to its commercial property portfolio after buying office and retail sites in Nottinghamshire.

The authority has acquired the site currently let to Co-Op supermarket on Trent Boulevard in West Bridgford and the premises of Snowden Healthcare on Finch Close off Lenton Lane in Nottingham.

Both will bring in an annual rental income of £135,000.

Council Cabinet portfolio holder for economy and business, councillor Andy Edyvean said the investments will help to keep some of its Council Tax levels the lowest in the county.

He said: “We’re very pleased to have acquired these sites and particularly one here in the Borough.

“By investing in property, this is a stream of income independent of the Council Tax it collects from residents living in the Borough.

“A business premises within the Borough also increases the income to the Council collected via Business Rates – all of which helps maintain a steady rate of Council Tax for our residents.

“We invest in Rushcliffe to support employment and skills, and we have now invested in the borough and Nottinghamshire as a commercial investment to support the Council’s finances going forward.”

The authority announced in October 2017 the acquisition of 20,000 sq ft of industrial property in Coalville in Leicestershire.