City council agrees to create property investment arm
Birmingham City Council has agreed plans to create a new property investment body with the aim of generating additional capital receipts for the local authority.
The new body, which will be a wholly-owned company (WOC) within the council’s control, will enable the council to acquire, lease and dispose of property assets to generate revenue for the authority.
The council is implementing the special purpose vehicle as part of a wider strategy to commercialise certain operations to capitalise on assets.
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