Retail Leader: sector's stress enhances councils' commercial role.
Posted by Local Government Chronicle on 10th Dec 2018
There are “huge misconceptions” about some councils’ property investments, according to the new president of retail property body Revo.
These misconceptions not only relate to the level of risk councils are exposing themselves to, but also the scale of out-of-borough investments.
Research Revo commissioned earlier in the year found that just £600m of £3.8bn invested by councils between 2013 and 2017 related to shopping centres, and all of those purchases had related to sites within each local authority’s area.
Mark Robinson, who is co-founder and property director at Ellandi, a leading investor in UK community shopping centres, said there was “a lot of heritage in councils investing in their town centres” and added there was a “huge range of motivations” as to why there has been a surge in councils’ commercial investment activities.
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