Brentwood Borough Council

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Brentwood Borough Council

FOI 14391

LGC research into property portfolios

Request

To the Freedom of Information Officer LGC is conducting some research into the growing trend for local authorities to invest in property on a commercial basis. Recent reports on this issue have focused on the potential risks to council finances; the intention of LGC’s research is for the results to form the basis for a balanced discussion of the risks and opportunities and how councils are managing those.

In light of that, could you tell me:
What is the value of property owned by the council that generates an income (excluding council housing)?
How much in monetary value, if any, of this portfolio relates to residential property?

What is the value of this portfolio has been purchased since 2010 specifically to generate an income?

What is the estimated return on investment from the portfolio over the next five years? Eg. % rental yield
Please provide the type and value of a) the largest property and b) the smallest property.

What is the value, if any, of property owned outside the local authority area?

Response

In light of that, could you tell me:
What is the value of property owned by the council that generates an income (excluding council housing)? £6.8m
How much in monetary value, if any, of this portfolio relates to residential property? Nil

What is the value of this portfolio has been purchased since 2010 specifically to generate an income There have been no properties purchased since 2010 specifically to generate an income.

What is the estimated return on investment from the portfolio over the next five years? Eg. % rental yield
Please provide the type and value of a) the largest property and b) the smallest property. We have not sold any investment properties since 2010 so we cannot answer this question. Any current rental information is commercially sensitive.

What is the value, if any, of property owned outside the local authority area? We do not own property outside the Brentwood Borough.