Test Valley Borough Council (TVBC) generated additional income last year thanks to investments it has made in property since 2014.
Through ‘Project Enterprise’, the Council has been developing and enhancing its own property portfolio, and making purchases of investment property, for financial return. This has included investment in a number of sites, including Walworth Business Park developments, Andover Trade Park and some residential properties in Romsey.
By the end of 2022/23, a total of £36.833M had been invested in 12 projects. All investments were made using existing council resources and no external borrowing was required. This has resulted in the generation of an additional £12 million since the launch of Project Enterprise in 2014. This additional income has been used to help set a balanced budget each year and ensure the ongoing delivery of services to the public.
To read more, go to the TVBC website.