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Friday, 11 July 2014

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Carlisle City Council sell off £6m in assets

A Carlisle industrial estate has been sold, taking the total cash raised by the council by selling off assets to more than £6m.

Part of the Willowholme industrial estate, plus the Willowholme depot and land at Treasury Court, were the latest in a string of council-owned assets to go up for auction.

They raised £545,000 after going under the hammer, according to a report to be discussed by the council next week.

The estate went on the open market after talks to sell the freehold to tenant businesses broke down.

The council said the 21-acre estate brought in very little income.

Most of the tenants will not be affected by the sale because they occupy their premises on 99-year leases, dating from the early 1960s, which are not subject to review.

Details of the purchaser have not been revealed but officials expected it to sell to a pension fund or other long-term investor prepared to wait for the leases to expire in 50 years’ time when they will be able to re-let the premises on commercial terms.

Next week’s report reveals that council officers are now looking at identifying the next batch of land and buildings to be put on the market early next year. Many are potential sites for future housing developments.

The sites have not been identified in the report but are likely to include agricultural land near Kingswater Close in Brampton, land near Dene Crescent, Belah in Carlisle, and at California Road, Greymoorhill.

The four-year scheme aims to make £24m from selling 51 council assets, with previous sales including Rickergate properties and the former Woolworth building in the city centre.

Most of the cash generated from the sales will be reinvested to generate revenue for the cash-strapped authority.

The former women’s hostel in London Road is one of those currently on the market.

A city council spokeswoman said they thought it could continue to be used either as a house or for business.

“This doesn’t rule out the possibility of demand for alternative uses, subject to any planning requirements,” she said.

Have your say

Seems to me that we have very short sighted people running our city.

Posted by Ed Allen on 1 January 2014 at 11:38

Maybe they could use £24m for something to benefit the city longterm eg: new cufc stadium deal with a big investor, or new shopping cntr development/ theatre/ generally good asset to the city to be proud of, not just an average history and bleak mediocre prospects; look forwards Carlisle not sideways!!!! Whats the worst that could happen with a spare £24m!!!

Posted by Anon on 1 January 2014 at 04:28

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