Land sale to plug funding shortfall

10:36 05 June 2013

The Civic Centre, Barnstaple

The Civic Centre, Barnstaple

Archant

Council to sell off 18 land and property assets to help maintain capital spending programme.

NORTH Devon Council is looking to sell off surplus assets in a bid to plug a shortfall in government funding.

The council has earmarked 18 assets for potential sale, including land currently used for parking, small plots of grassy, wooded, garden and unkempt areas, as well as some buildings.

The Executive committee met yesterday (Tuesday) to approve proposals for land in Braunton; Fremington; Umberleigh; South Molton; Mariansleigh; Barnstaple; West Down; Ilfracombe; and Filleigh.

Deputy leader Cllr Rodney Cann said that while some assets were of nominal value, others could potentially be ‘very valuable’ depending on the markets.

He said: “I am sure that given the right circumstances, we could be sitting on a significant funding pot here.

“It’s impossible to put a value on it until we take it to the market but we could be sitting on a nice little earner.

“There are parcels of land that we have been talking about disposing of for several years and now is the time to get our act together and go to the market to test it.

“Some will add tremendous value to nearby landowners while others could add very little value.”

Cllr Cann said the sale of land would help the council to maintain the capital spending programme.

“We need to reinvest in areas where we are desperately short of cash because of government cutbacks,” he added.

The council’s government grant for 2013-14 is £5.6million – £2.7million less than in 2010-11.

Its revenue budget for this year is £12.1m, compared with £15m in 2010-11.

Steve Hearse, interim head of financial services, said: “Following this reduction in budget the council is looking at every opportunity to save money, work more efficiently and generate income.

“One way of doing this is disposing of assets that are not being used or that are not economic to hold on to.

“The action that we decide to take needs to be balanced with our ability to provide services at a standard our residents expect.

“While services haven’t been affected to a great degree up until now with further cuts expected the council cannot guarantee that they will not have to make changes in the future.”

0 comments

Other News Stories

Work on Barnstaple's new TK Maxx store is continuing to progress. Picture: Andy Keeble

TK Maxx has announced that its new shop in Barnstaple will create 35 jobs.

Read more
09:37
Labour candidate for North Devon, Mark Cann

In the latest of our series of profiles, we meet Labour’s candidate for North Devon, Mark Cann

Read more
The dolphin washed up on Putsborough beach. Picture: Amanda Baldwin.

Dead dolphin found washed up on North Devon beach yesterday (Wednesday).

Read more
Marlene May with her new book. Picture: Sarah Howells

Marlene May, 77, is selling her new book at charity shop where she has worked for 18 years.

Read more
07:00
The Trumpton bonfire in Torrington is coming together.

Torrington Cavaliers get set for giant charity bonfire in August.

Read more
Yesterday, 16:09
Dave Garrett and Mark Edwards getting ready for the 100 mile challenge.

Bideford man prepared for epic 36-hour non-stop walk in aid of the Chemotherapy Appeal.

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 3°C

min temp: 6°C

Most Read News

Advertise in the paper
Submit a Story
Subscribe to the paper
Competitions
North Devon Football League
Order Photos
Family notices
iwitness24
Facebook
Twitter
Google Plus Page
Family Notices 24

Digital Edition

Image
Read the North Devon Gazette e-edition today E-edition



North Devon's trusted business finder