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Cambridgeshire buys Tesco lease

Cambridgeshire County Council has extended its property portfolio by buying a Tesco supermarket lease.

The £51.4m deal landed the store just outside the city centre with a 10.5 year lease that will deliver a 4.5% return.

The council hopes the cash will pay for 56 social workers or support 80 older people with dementia.

It follows the council’s £11.57m investment in an industrial unit in Peterborough.

 

 

Until recently, the FRC had little involvement in local government affairs. But with investigations into council officers becoming more frequent, where is the political accountability?

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