Reports of the £4.3bn ‘black hole' in local government finances paint an alarming picture of the funding shortfall facing local councils. With growing demands on crucial public services, it is no surprise that many are resorting to selling off public assets to make ends meet. However, while ‘selling off the family silver' may lead to short-term gains, it means councils risk losing out on longevity.

Council-owned buildings have great potential to not only provide spaces for local communities but also generate income for services for years to come. But what is currently preventing councils from making income?