Council to sell £50m worth of property assets

The council has already received approval to sell Old Manor House, Send Hill disused Sand Pit and West Lodge

A council says it plans to sell £50m worth of assets across the next three years.

Guildford Borough Council - which is currently at the centre of a fraud probe – has recently sold historic council-owned buildings to help its financial recovery plan.

A strategy for its asset disposal programme has been approved.

The council said it was “not an easy decision”.

“But it's one of the ways we've chosen to balance our Medium-Term Financial Plan and safeguard services to our communities,” a spokesman said.

'To be protected'

The council said it expects to sell £12.5m of property assets by October 2025, before an additional £12.5m by April 2026, October 2026 and April 2027 respectively.

“Properties that are essential for the delivery of statutory services and those that continue to provide an attractive and sustainable investment return are to be protected,” the spokesman added.

“Housing Revenue Account owned assets fall outside the scope. This includes our renting housing.”

The council has already received approval to dispose of Old Manor House, Send Hill disused Sand Pit and West Lodge.

Other assets that will not be considered for disposal at the initial stages are building and land assets that are of strategic significance and for public spaces or that may form part of another project within the councils Corporate Plan.

Follow BBC Surrey on Facebook, on X. Send your story ideas to [e-mail] or WhatsApp us on 08081 002250.