Councils spend £3.8bn on commercial property in five years

Birchwood Park Warrington

Councils spent £3.8bn on commercial property between 2013 and 2017, according to a new report by retail membership body Revo and consultancy Carter Jonas.

Spelthorne Borough Council in Surrey was identified as the biggest investor, committing £477.1m to assets in its area. This was mostly due to the acquisition of BP’s International Centre for Business & Technology in Sunbury for £360m in 2016.

The figure is more than double the £219.5m that the next biggest investor, Warrington Borough Council, spent over the same period. That local authority acquired Birchwood Park from Oaktree Capital Management for £200m last year.

This is premium content

You must be logged in to view premium stories.

Gated access promo

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

  • Breaking industry news as it happens
  • Expert analysis and comment from industry leaders
  • Unlimited access to all stories, including premium content
  • Full access to all our online archive

To get access to premium content subscribe today

Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts

If you are already a registered user or a subscriber you can SIGN IN now