National recognition after council increases income from property
Buckinghamshire County Council’s commercial approach to the property market, which brings in millions of pounds to fund vital services, has been recognised after it made it through to the final of a prestigious national award.
The money made by the council from leasing out the property it owns has risen from £730,000 in 2012, to nearly £4.5m today. This is down to a number of successful property acquisitions, alongside the regeneration of the council’s estate, including Old County Hall, which has been transformed into a business hub, exhibition space and beauty spa.
The council is now through to the final of the Commercialism in Property category of the hotly contested Municipal Journal Awards, which are renowned for celebrating the very best practice amongst local authorities.
Buckinghamshire County Council leader Martin Tett said: “I’m delighted we’ve clearly impressed the MJ judges for our commercial approach to property, which generates millions of pounds on behalf of our residents. With changes to the way local government is financed, having a commercial outlook and bringing in additional income is an essential part of our strategy to protect frontline services.”
The winner will be announced on June 15.