Severn Trent Water is to sell 400 sites from its non-operating property portfolio.
Folllowing a review of the portfolio it said it had ‘set in motion a disposals programme’ for more than 400 sites that are surplus to its requirements.
The sites range in size and value and are all are non-operational in terms of its water and sewage business. Most of the sites will be sold through auction and range in value of between £25,000 - £50,000.
Ted Pearce, Severn Trent Water’s director of property, said: ‘This isn’t about raising revenue, but is a prudent step for corporate organisation.
'Each of the sites identified – and there are more than 400 that we’re looking to dispose of – is no longer regarded as part of our core business activity, and therefore it makes sense to rationalise so we can focus on all our operational sites.’
He added: ‘While there may be a view that disposing of land and assets in the current climate will result in poorer returns for Severn Trent, our research suggests that there is still a healthy demand from equity purchasers for this type of property.’
