Property News · June 5, 2017

UK councils are taking huge commercial risks | Dag Detter


Local government needs more professional management of all its assets, rather than a headlong dive into risky commercial venturesLocal councils in the UK are diving headlong into the commercial property market, acting as though they are private sector hedge funds – it’s a role they’re not set up for and they run huge risks. The reason behind this commercial adventure is the need to fund gaps in their budgets after years of spending cuts from central government. But if the public sector were better at maximising property assets, perhaps it would not need to try such dangerous arbitrage to bridge the gap in funding. Continue reading…

Source : theguardian.com
Read more…UK councils are taking huge commercial risks | Dag Detter

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