'A council that is truly punching above its weight' - award for Breckland's property investment
PUBLISHED: 16:13 19 June 2017 | UPDATED: 16:13 19 June 2017
Breckland Council has won a prestigious national prize, which recognises excellence in local authorities that use collaboration and commercialism to create income from their property assets.
The award was given in the Commercialism in the Property Estate category of the Municipal Journal (MJ) Awards 2017 at the London Hilton Hotel and hosted by actress Joanna Lumley.
Breckland Council impressed the judges with its long-running property investment scheme, which currently includes around 200 commercial properties and generates around £2.5 million income – around the same amount of money as the council receives through local council tax.
Alongside development experts The Land Group, the council has created the Breckland Bridge joint venture which completed the £8m Thetford Riverside leisure complex last year and is currently building brand new homes in Mileham.
Council Leader William Nunn said: “Breckland Council was an early adopter of taking a more commercial approach, in order to diversify our income and reduce our reliance on central government funding.
“We have shown that we are a council that is truly punching above its weight, with the commitment to deliver on our big ideas in order to make a real difference to our residents.”
The income the council receives from its commercial property portfolio helps to keep the financial burden off residents. The council charges the lowest district council tax in the country.