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Bars (Drinking establishments)

Slough Borough Council to Sell Car Park Next to Pub due to Lack of Income

Strategic Insights

— 1 min read

Slough Borough Council has voted to sell a free car park next to the Kings Head pub in Cippenham, citing the council's need for capital receipts from the sale. The decision was made as part of a broader plan to sell eight properties deemed "surplus" to the council's needs, which would generate revenue and help pay off debts. The council's director of property and assets, Peter Hopkins, stated that the car park does not currently generate any significant income and incurs significant maintenance costs.

Key Takeaways:

  • The Kings Head car park in Cippenham, Slough, has been earmarked for sale by Slough Borough Council.
  • The council's director of property and assets, Peter Hopkins, stated that the car park does not generate any significant income and incurs significant maintenance costs.
  • The council has declared eight properties, including the car park, as "surplus" and will sell them to generate revenue and help pay off debts.
  • The sale of these properties will generate a "capital receipt" for the council.
  • The council will conduct due diligence on car parks and land before any sale is agreed.
  • The sale of the car park is linked to a broader plan to reduce the council's maintenance costs and generate revenue.
  • The council is under pressure to pay off its debts, and selling surplus properties is seen as a way to achieve this goal.
  • Peter Hopkins, the council's director of property and assets, emphasized the need for the council to generate capital receipts from the sale of these assets.

Statistics:

  • The council has declared eight properties as "surplus" and will sell them to generate revenue.
  • The Kings Head car park is one of the properties that will be sold.
  • The car park does not generate any significant income, according to Peter Hopkins.
  • The car park incurrs significant maintenance costs.
  • The council will use the revenue generated from the sale of these properties to pay off its debts.
  • The sale of the car park and other surplus properties is expected to generate a significant capital receipt for the council.

Sources:

  • READ MORE: 'Doubts in my mind' about Hatfield car park sale, says senior councillor

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