Nottingham City Council to review over 500 assets in bid to cut costs

Nottingham City Council is intending to review 550 of its assets in a fresh bid to cut costs, a newly published document has revealed.

In an updated version of its “Together for Nottingham Plan”, the authority says it will undertake 150 asset reviews this year followed by a further 400 in 2023.

City Council Leader Cllr David Mellen had previously said that selling property and land no longer required by the council was “one of the ways” it could fill its coffers.

He said such an approach was necessary “at a time when our Government grant is drastically reduced and we are unable to borrow due to the involvement of the Improvement and Assurance Board.”

The independent board has been working with the council to help develop and implement a medium-term financial plan. It became even more closely involved in September after the Government decided against appointing commissioners to take over certain decision-making functions at the council.

Ministers had been minded to intervene in June after over £40m was misspent by the authority, but subsequently u-turned on the plans.

Mellen insisted the council would not be selling things “in an unplanned way.”

He said: “[The plan] is properly assessed and we seek to sell [the assets] for as much as possible, unless they are community assets where there is some social value to be gained. Most of the properties that bring in larger amounts are commercial properties rather than community assets.”

Earlier this month the council was given a list of 67 “requirements” it must fulfil in order to avoid further government intervention.