Shropshire Council sells off property assets

A builders' yard and 10 electricity substations were up for sale

About £2.3m has been made for Shropshire Council from an auction of some of its property assets.

Lots that went under the hammer included a quarry, a caravan park and a telephone exchange.

Twenty lots of council-owned property were auctioned in London by consultants Lambert Smith Hampton.

Council leader Keith Barrow said the Conservative-led authority had made almost double what it had expected. More auctions will be held in future.

The council needs to make cuts of £76m to its budget by 2014 and plans to sell off £13m of assets this year.

Shropshire Council inherited many properties when it became a unitary authority in 2009.

A builders' yard in Much Wenlock with a reserve price of £160,000 went for just over £300,000.

A total of 34 empty two-bedroomed apartments in Weston Rhyn went for £560,000 - the guide price was about £250,000.

But 10 electricity substations did not sell.

A council spokesman said the authority plans to auction more property.