Published: 18th Mar 2020

The value of Sedgemoor District Council’s property portfolio has fallen by more than £900,000 in a year, according to official papers. According to a report, which went before the council’s executive last week (11 March), the local authority has a portfolio of five different commercial properties which cost a total of around £30.5m when they were first purchased. The report estimates the total value of the portfolio has shrunk by £917,000 in the last year. The portfolio includes the Street Retail Park, which was bought by the council in December 2018 for £8.24m, but it now estimates that it is worth around £7.7m, representing a loss of £476,000. Sedgemoor also owns a TK Maxx store in Worcester High Street, which it originally bought for £8.5m and is now valued at £8.1m, representing a loss of £376,000. The council’s portfolio also includes a unit on the Sowton Industrial Estate, near Exeter, … (To read the full article, subscribe below)