Asset Management Plan

Local authorities have been impacted by significant reduction in government funding (in many cases near 100% removal) in recent years, which has led to councils identifying alternative ways to generate income, including property acquisition, to ensure service levels are maintained for their residents, communities and businesses.

Between 2016 and 2018, Spelthorne Borough Council acquired a portfolio of investment properties with the main aim of generating sustainable long term income streams to contribute towards the cost of discretionary council services for residents. In addition, the acquisition of the BP site, allowed the council to control the future of a key strategic site within the Borough and retain a key employer. The Council also purchased 3 regeneration assets to facilitate longer term 'place making' priorities within the Borough and support the long term economic prosperity. These properties together with the Council's municipal assets form the Council's land and property portfolio. The Council is no longer looking to acquire income producing assets.

This Asset Management Plan (AMP) sets out the direction for the entire portfolio supporting the Council's Corporate priorities and the proactive approach the Council will adopt to manage its assets over the four-year period April 2024-March 2028. Key focuses include value for money and future sustainability. This AMP builds upon the previous Asset Management Plan (2019-2024) and reflects several changes to governance, economic context and the impact of COVID-19.

The overriding objective of the Plan is to ensure that each of the Council's property assets supports the provision of the Council's Corporate priorities, by generating sufficient income to meet the cost of discretionary council services, provide land and property holdings that allow our community to live and work in an environment that is sustainable and evolving to meet the ever changing needs of the community whilst meeting all statutory compliance targets and minimizing risk for the Council.

• Asset Management Plan (pdf, 17.35 MB)