Peterborough City Council sells off properties for £250,000 to help fund services

Peterborough City Council news from the Peterborough Telegraph - peterboroughtoday.co.uk, @peterboroughtel on Twitter, Facebook.com/peterboroughtoday
Peterborough City Council news from the Peterborough Telegraph - peterboroughtoday.co.uk, @peterboroughtel on Twitter, Facebook.com/peterboroughtoday

Money raised through the sale of two council-owned properties will be used to protect services for residents.

The two properties were put up for auction last week (Thursday February 16) and both received successful bids. The total sale price for the properties was £250,000.

Discussions are now taking place with the purchasers with the aim of the sales being finalised this financial year.

The properties were:

1 Olympia Farm Cottages, Peterborough Road, Crowland (£110,000)

83 Wisbech Road, Thorney (£140,000)

Both Olympia Farm Cottages and the former school caretaker’s house on Wisbech Road were vacant.

Given the close proximity of the property on Wisbech Road to the Duke of Bedford Primary School a fence is being erected on the new boundary.

Councillor David Seaton, cabinet member for resources, said: “Every year the council has the challenge of managing an increasing demand on council services with a reducing amount of money. In order to protect and reinvest in services for residents, in particular social care, we are looking to sell a number of council assets.

“In part, this has enabled us to propose a balanced budget with no service reductions for next year.”

The council regularly reviews buildings, land and properties in its ownership and sells those that are in the city’s financial interests to do so.

The auction follows the recent sale of The Pyramid Centre in Bretton and The Lindens on Lincoln Road.

Relevant parish councils and ward councillors are informed ahead of any sale of council assets.