Thurrock Council to sell nine assets to reduce deficit

The council has now released to the BBC a list of assets its intends to sell to raise funds

A council that is effectively bankrupt has revealed a list of nine assets it intends to sell to reduce its deficits.

Thurrock Council was left with debts of about £1.5bn following a series of failed investments in solar farms.

The local authority previously outlined its hopes to recoup about £1bn from its investment portfolio.

The list of assets to be sold include car parks, industrial estates and a former library.

The assets to be sold, which are separate to the investment sale, include:

• Former Aveley library and public hall site, Aveley

• The Civic Offices, Grays

• Land at Thurrock Parkway in Tilbury

• The Crown and Darnley Road Car Parks in Grays

• 85 Coronation Avenue, Tilbury

• The former Youth Offenders Office in Corringham

• Manor Way Industrial Estate, in Curzon Drive

• Hume Avenue/Dock Road in Tilbury

• Land at Tank Hill Road in Purfleet

All of the assets have been agreed for sale by the council's cabinet.

It is understood they are just the first tranche of a number of assets to be sold by the authority.

Andrew Jefferies, leader of the Conservative-controlled council, said: "It will not be a fire sale, we absolutely must get best value.

"We've got a whole team working on it to decide which assets we should sell to reduce the debt."