Disposals raise £15m in Manchester
MANCHESTER City Council’s net worth fell by £86.5m, or 5%, last year due to the fall in the value of property and equipment.
According to unaudited annual accounts for the year to April the authority’s net worth now stands at £1.6bn.
During the period it concluded a number of property deals classified as “major acquisitions and disposals”.
It bought Rochdale Road police station for nearly £600,000, land in Miles Platting for £1.3m, and land adjacent to Macintosh Mill in the city centre for £2.09m.
This was considered a strategic acquisition linked to the future development of First Street, off Whitworth Street West.
It raised nearly £15m from disposals which included: the sale of land at the former Crossley Works site in east Manchester for £3.3m, The Peele Care Home in Wythenshawe for £4.6m and various properties in the Bowes St area of Moss Side for £6.6m.
