Asset sales statement

By on 15/01/2014 in News

The following is a statement in response to reports about the potential sale of city council assets to meet the authority’s equal pay liabilities.

A Birmingham City Council spokesperson said: “The council has disposed of assets to the value of £76m over the past two years largely consisting of surplus land and office accommodation plus right to buy sales of council housing.

“The forward programme is likely to include

– further identification of surplus land and property

– a review of our commercial and retail holdings

– a review of income generating assets such as car parks and commercial leases.

“These reviews should be seen in the context of the wider budget challenges faced by local authorities including the financing of equal pay liabilities.

“The current review of the NEC group however is prompted by the need to invest and diversify the business to enable its amazing success to be a platform for international expansion and growth.”

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