Redditch Borough Council has said it will begin to invest in commercial property.
The council said in its Capital Strategy 2019/20 and Treasury Management Strategy report that it would invest up to £20m over the three years beginning with the financial year to March 2020, with the investments likely to be in commercial property. The council currently has no such investments.
“With central government financial support for local public services declining, the council is planning to invest in commercial property purely or mainly for financial gain.”
The £20m limit, the report said, is to keep the exposure “proportionate to the size of the authority”.
