Council billions in debt sells off more buildings

The Surrey local authority recognised that "difficult decisions" were required

A Surrey local authority more than £2bn in debt has approved the sale of two more buildings in an attempt to balance its budget.

Woking Borough Council (WBC) is currently reviewing what it can sell off after effectively going bankrupt in 2023 on the back of a failed investment strategy to regenerate parts of the borough.

It has since had to raise its share of council tax by 10%, close a raft of public services including toilets, lose about 60 staff members and stop funding to community groups, according to the Local Democracy Reporting Service.

The two most recent sales - the values of which have not been disclosed - are the Egley Road Barn site and Sheerwater Nursery, currently being used by Woking Gymnastics Club and a charity respectively.

The council's aim is to try to ease the burden on the taxpayer if and when a Government bailout happens.

Council leader Anne-Marie Barker told Thursday's executive committee meeting: "It's part of our asset disposal program to help to reduce the debt at Woking Council."

However, Councillor Dale Roberts added that the decisions weren't "purely economic", but "also aligned with the Woking for All strategy", which would "help deliver a thriving community through partnerships".

He said the council was doing everything it could to facilitate Woking Gymnastics Club's relocation to nearby Kingfield, adding that the move would help "increase the provision of homes within the borough".

Meanwhile, the two-storey Sheerwater site - which is let to a charity for free - has been sold to a "special purchaser, because advantages have been found for their ownership that would not be available to other buyers".

The report into the sale said that WBC recognised that "difficult decisions" were required in revising its approach to property ownership and how "the disposal of surplus properties" would help its finances.