Published: 16th Jan 2019

Southend-on-Sea Borough Council has revealed plans to invest almost £23.5m in commercial property over the next few years to help protect frontline services. The Essex council’s cabinet are due to meet on 17 January to discuss its draft budget for 2019/20 and a draft capital investment programme from 2019 to 2024. The draft capital investment programme includes a commitment to invest £23.47m in commercial property, subject to a viable business case being produced and approved. According to the report, the investments will help ‘secure and maintain long-term growing income streams and capital appreciation’. ‘Such investments will be part of the council’s wider strategy, for example economic development and growth,’ the report adds. The draft budget also includes commitments to invest £18m in Southend Pier, £26.3m into improving roads and pavements and £1.2m for parks and open spaces. ‘As government grants continue to reduce, we are having to be more commercially … (To read the full article, subscribe below)