Council raises property cash
Selling county council-owned farms in Somerset has raised £18.51 million which has been reinvested into capital projects.
The latest, Pepperhill Farm, near Over Stowey, in the Quantock Hills, sold at auction for more than £1.7 million – more than £500,000 over the guide price.
The Conservative-controlled council has been accused of "selling off the family silver" but Cabinet member David Huxtable said: "Sales like these allow us to continue our investments into capital projects such roads and schools buildings without needing to borrow. The sales have raised a huge amount of money which we are using to improve vital parts of what the council provides and we are re-investing that income into the areas that need them most."
Money raised has to spent on building projects and not to supporting services.