Frontline services to benefit from investments

Frontline council services in Leicestershire are to benefit from money generated from its commercial property investments.

Leicestershire County Council says new figures show they generated £7.1m over the last 12 months – an increase of 2.89 per cent. 

The money will go towards fixing and preventing potholes, delivering social care for adults and children, and other frontline services, helping to mitigate some of the demand pressures facing critical services. 

Councillor Byron Rhodes, cabinet member for finance and resources said: "It is very encouraging to see that our portfolio of properties is thriving and performing better than the industry average.

“This continued good performance allows us to fund important services at this particularly difficult time with Covid-19 putting additional burdens on our finances. 

“Our approach of bringing new life to old commercial sites and building new workspaces is creating hundreds of jobs and boosting the economy.

“Crucially, it means we can invest money into vital frontline services, maintaining our roads, bringing down the inconvenience to people who use them, and explore how we can bolster social care services, supporting vulnerable people."

The Corporate Asset Investment Fund annual report was discussed by the Scrutiny Commission on Tuesday 2nd September and will be considered by Cabinet on 18th September.