Shropshire Council property auction raises over £2 million
Twenty lots of Shropshire Council owned property went under the hammer in London yesterday, as work continues to review the property and land owned by the council.
Shropshire Council say, yesterday's auction was a great success, with the lots fetching significantly more than the guide price. The overall guide price for the lots was £1,275,000. Only two sub-station lots remained unsold at the end of the auction, with yesterday’s sales amounting to £2,344,750 in total.
A guide price of £250,000 for 34 unoccupied two-bedroomed apartments at Brookfields Close in Weston Rhyn was broken when the lot went for £560,000.
A builders' yard in Much Wenlock, which had a reserve of £160,000 almost doubles on its estimated value selling for just over £300,000.
Councillor Martin Taylor-Smith, Cabinet member, said:
“There was a substantial amount of interest in the lots and achieving more than £1,000,000 above the guide price is a fantastic result.
“Yesterday’s auction was part of our Asset Management Strategy in which we are reviewing the buildings and land owned by the council and its partners to ensure we are making the most efficient use of them. The strategy is designed to make sure the council is making the best use of its resources, as part of wider plans to become more streamlined and efficient.
“This will release capital which can be invested in future projects that will benefit people throughout Shropshire, providing a boost for business growth and the local economy. In turn it will help the council to reduce the running costs of maintaining land and property, and in doing so sustain and improve frontline services.”
The Government has recommended that public services should look to reduce their estate by up to 30 per cent to save money and energy costs.
Shropshire Council is currently making savings of £76m to its budget by 2014.
