The Council owns a number of properties. Some of these have been purchased to provide much-needed housing for residents whilst others are commercial properties which are leased to third parties and earn the Council an income.
The withdrawal of Government funding for local authorities means that councils, including Spelthorne, are having to find new ways to fund services. The Council's property investments generate an important revenue stream and are helping us to protect the vital services which residents and businesses need and deserve.
The Council has borrowed money at a very competitive rate of interest from the Public Works Loans Board (PWLB) to fund most of the purchases. In all cases the Council has taken advice from a number of independent experts to ensure the properties represent sound long-term investments.