‘Surplus property’ sales top the £4m mark

The former Wetherby Day Centre, in Gosforth Road, Derby has fetched nearly £500,000

“A final sale price of £445,000 was in excess of initial expectations,” said Derby City Council’s strategic asset manager, John Sadler.

He added that the building, which sits on 4,050 sq m of land, was classified as a “surplus asset” as part of the Council Property Rationalisation programme. This programme reviewed 382 key Council-owned properties to better understand how they were being used and whether there were opportunities to deliver services in a different way.

The sale of this asset brings the total number of surplus properties sold, since March 2013, to 25 generating approximately £4.2m in capital receipts.

The property was originally built in the 1960’s with later extensions and has a range of accommodation including activity and meeting rooms, leisure, dining and kitchen areas together with extensive workshops.

“There was a significant level of interest shown prior to auction which was reflected in the number of competitive bidders in the sale room,” said Sad;er.

He aded that among the properties expected to go on the market in 2017 are Middleton House, Duckworth Square and the Cattle and Wholesale Markets.