FINANCE

Eastern property promise

Councils in the East of England have taken major steps to review their asset management arrangements – and are reaping the rewards. Andrew Rowson, asset management lead from the East of England LGA, talks through the benefits.

Councils own or use a vast portfolio of property and land. They need these facilities to provide services - schools, libraries, social care, day centres, parks and housing.

But they are also duty bound to use these spaces efficiently –without wasting money unnecessarily – which is essential because councils incur high costs just through occupying buildings.

In fact, in 2012/13, English councils spent an estimated £5.6bn – about 4% of all revenue spending in that year - on premises-related expenditure, according to the Audit Commission's "Managing council property assets" briefing paper, June 2014.

So how can councils get the best return from their assets?

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