Buildings face sell-off in major cuts proposals by Preston Council
Buildings owned by Preston Council could be sold off as part of major budget cuts proposed by the authority.
Town Hall leaders have already made swingeing cuts to the services they offer, with “all options” now being considered to make further savings to tackle massive reductions in government funding.
Coun Martyn Rawlinson, cabinet member for resources at Preston Council, said the authority was being “creative” to reduce costs and find savings, including the sale of buildings.
He said: “There are some small commercial assets we own that generate very little income that we might be able to sell, and that will create capital receipts which reduces our borrowing.”
A proposal within the emergency budget document said: “A review of all property and land assets held by the Council has been carried out.
“A report will be presented to Budget Working Group setting out opportunities for disposal of assets for development and other available options.
“The disposal of freeholds or changes to leases on existing buildings producing potential receipts will also be considered.”