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5 May 2017   Surrey Advertiser   8

Councils reveal
the huge cost of
properties bought
for investment
by JOSHUA SMITH Travelodge, as well as retail properties as investments, Get Surrey that it owns BP
joshua.smith@trinitymirror.com parks in Milton Keynes and which it values at nearly Main Campus, Chertsey
Twitter: @Joshua_Smith1 Loughborough. £38,399,835.33. Road, Sunbury-on-Thames,
A response to the FOI re- All but two of the proper- BP South West Corner Site,
Councils in Surrey own at quest states: “The key pur- ties were purchased more Chertsey Road, Sunbury-on-
least £360 million worth of pose of the county council’s than a decade ago, when the Thames and Elmbrook
properties bought purely as investment property strategy council did not record the House, 18-19 Station Road,
investments. is to deliver an ongoing in- purchase price. Two proper- Sunbury-on-Thames as in-
Estate agent Savills told come stream for the council ties have been purchased in vestments but gave no fur-
The Financial Times last to fund essential services. the last tax year – 64-74 East ther information.
week that English public sec- “The investment portfolio Street, Epsom (purchased for l SURREY HEATH BOROUGH
tor investors bought property consists of property invest- £5,320,000) and Parkside COUNCIL
valued at £1.2 billion last year ments that either provide a House, Ashley Road, Epsom Surrey Heath stated that it
and had spent at least £221m commercial return or will de- (£11,775,000). owns 16 properties as invest-
by the end of March this year. liver economic regeneration l GUILDFORD BOROUGH COUNCIL ments, purchased for a total
But on Sunday, former or meet long-term service Guildford owns 158 proper- of £49,750,600, although it

Small is business secretary Vince


Cable told The Observer that
the strategy is ‘not a wise and
use, while also delivering an
investment return.
“The council is developing
ties as investments, bought
for a total of £41,031,302.
The council valued the
does not have a record of the
prices paid for all of its
property.

just the sensible thing to do’. a mixed and diversified port- properties at November The council purchased
The same article reported folio, across a wide area and 2015, at £103,825,244.28. In three properties as invest-
that authorities were borrow- across property sectors, in the tax year 2016/17, it pur- ments in the 2016/17 finan-
ing from the Public Works order to manage the inherent chased Wey House, Farnham cial year: House of Fraser/

ticket Loan Board, a statutory body


that provides loans to public
bodies from the National
risks of property ownership.”
The statement adds:
“Investment property assets
Road, for £22,650,000.
l MOLE VALLEY DISTRICT
COUNCIL
NatWest building, 45-51 Park
Street (purchased
£17,600,000), Albany Park
for

on Loans Fund, at very low rates are let to a variety of tenants The council told Get (£15,250,000) and 123
of interest and then using the in a number of industry sec- Surrey that it does not own London Road, Camberley
money to invest in property. tors and range from local any investment properties. (£325,000).
Get Surrey sent Freedom businesses to large public l REIGATE & BANSTEAD l TANDRIDGE DISTRICT COUNCIL

Little of Information (FOI) re-


quests to Surrey County
Council and all of the coun-
limited companies.
“All investments are re-
quired to demonstrate a rev-
BOROUGH COUNCIL
Reigate & Banstead owns
32 properties as investments,
Tandridge told Get Surrey
it does not own any proper-
ties as investments.

Street ty’s borough and district enue return in excess of the which it values at l WAVERLEY BOROUGH COUNCIL
councils, asking for a list of cost of funding the purchase £29,547,900. Waverley owns 43 proper-
all their investment proper- and a robust business case is These include Warwick ties as investments, which at
ties including the address, always applied to any pro- Quadrant (valued at March 31 it considered the
date purchased, price paid posed acquisition.” £10,844,400), Linden House, fair value to total £14,667,220.
THE team behind a l ELMBRIDGE BOROUGH COUNCIL 51 High Street, Reigate Properties include Plots 3,
Frimley play centre opened and current value.
Not all councils provided a Elmbridge owns eight (£4,192,500) and 18-44 High 4, 5, 18 and 19 at the
the doors to their new Little properties as investments, Street, Redhill, (£3,435,300). Sainsburys supermarket site,
Street branch in West Byfleet current value as well as a
purchase price. which were purchased for l RUNNYMEDE BOROUGH Farnham (valued at
– so we took along our £33,165,000; it does not hold COUNCIL £7,205,600), plots at Farnham
youngest roving reporter to l SURREY COUNTY COUNCIL
The council owns 19 prop- current valuation data on. In response to Get Surrey’s Trading Estate (total
look inside. Properties owned include FOI request, the council stat- £2,134,215) and plots at
Elliott Duffell joined other erties as investments, which
it values at £173,948,900. 26-38a High Street, Cobham ed: “Runnymede Borough Guildford Trading Estate,
little ones to discover the joys (purchased for £6.5m), Old Council only owns properties Farnham (total £2,085,330).
of the new little attraction in In the tax year 2016/17,
Surrey purchased 10 of these Post Office, 81 High Street, for place shaping or opera- l WOKING BOROUGH COUNCIL
the village. I hope the prices are small: Elliott works out if he has enough for the weekly shop as he finds his way around the store
properties for £108,249,000. Esher (£2,080,000), and Units tional purposes rather than Woking is yet to respond to
The idea behind the centre and, below, play time for Elliott with his mum, reporter Beth Duffell
Six of these are in the 1-2 Vickers Drive, Weybridge owning property as pure Get Surrey’s FOI request, dat-
is that young children can (£13,810,000). investments.” ed February 27. Publicly-
enjoy playing in a realistic said: “Little Street is a scaled high quality experience by care to restore Little Street stimulate their curiosity and county, while others current-
ly have tenants that include a l EPSOM & EWELL BOROUGH l SPELTHORNE BOROUGH funded bodies are required
mini street, which includes a down version of a typical operating pre-defined play back to its original state so inventiveness.”
B&Q store in Macclesfield COUNCIL COUNCIL to respond to FOI requests
supermarket, a construction town, inspiring children to sessions and keeping the the next group of children Little Street West Byfleet is
and a Stratford-upon-Avon Epsom & Ewell owns 45 Spelthorne confirmed to within 20 working days.
site, a police station and a explore life in the world numbers attending little. will enjoy the ‘wow’ factor. open daily, offering four play
medical centre. around them. “At the end of each play “Every prop will be re- sessions a day.
A play centre spokesman “We offer a period we take the time and turned to the right place to

Beauty spots blighted by fly-tipping


A MOLE Valley park ranger is bad. We are getting really bad park around five weeks While I don’t recommend
calling for action to stop fly- spates almost every week ago,one filled with rubble. It approaching these people, if

50+
tipping after waste was and something will have to cost £800 to dispose of the you can get the registration of
illegally dumped at an be done to stop them break- rubbish at the trust-owned the vehicle then hopefully it
Abinger beauty spot. ing into sensitive sites. site. can be taken further.”
National Trust volunteers “It makes you very angry. I Due to the ongoing issues, While the staff have said
at Abinger Roughs and was furious when I heard staff and volunteers at the there are fly-tipping inci-
Netley Park found piles of about this latest act. site are working with those at dents almost weekly, a lot of
$&7,9 waste at the popular Bishop’s “Bishop’s Cross is popular other beauty spots in Surrey the time they can never be
¬+$9( ,7,(672 Cross memorial near Leasers with tourists and it’s a real to document the number of 100% sure when an incident

$//,1$*2­$7
Barn on Friday April 21. shock for people like volun- fly-tipping cases. They hope has taken place as it can of-
A gate lock had been bro- teer Len Merritt to find the to use this to support Surrey ten be days before it is re-
&/86, ken, suggesting the fly-tip- mess when he puts so much Police in taking more action ported to the authorities.
9( pers had broken in. Building effort into making the site against fly-tippers. The National Trust has ap-
waste was also found on one look beautiful for visitors.” Mr Hewer added: “When pealed for members of the
of the park’s bridleways. This is the latest in a recent people see tipper trucks go- public to check that anyone
Rob Hewer, lead ranger of rise in fly-tipping incidents, ing around the Surrey Hills at they employ to dispose of
the Surrey Hills North Downs with two caravans dumped night, it should make them rubbish has the correct
West area, said: “It’s now very in the Abinger Roughs car wonder what they are doing. Waste Carrier Licence.

Driver who
hogged the
middle
lane of M3
pulled over
Police have issued a
warning after they witnessed
a driver ‘hogging the middle
lane’ for more than four
miles.
The driver was stopped
and ‘educated’ by officers
gofestUK PRESENTS from the Road Policing Unit
7KH8.­V)DPLO\)HVWLYDORI @gofestuk on Tuesday and is likely to be
offered a course following

6SRUW'DQFH+HDOWK )LWQHVV gofestuk the incident.


The car was pulled over in
the Sunbury area between
junctions one and two of the

(%%)$#%'&% (!#% M3.


Back in 2013, on-the-spot

) " #!)


charges were introduced,
giving the police powers to
YHQXHVSRQVRU issue fixed penalty notices for
careless driving, which in-

SUNSET CINEMA
cluded tailgating or middle
lane hogging.

)5((&2$&+,1* CLIVEDEN HOUSE | 21ST JUNE - 11TH JULY


The Highway Code states:
“You should always drive in
the left-hand lane when the
5816 5$&(6 road ahead is clear. If you are
overtaking a number of slow-
72851$0(176 er-moving vehicles, you
should return to the left-

&(/(%5,7,(6
hand lane as soon as you are
safely past.
“Slow-moving or speed-
0$,1677$*( restricted vehicles should al-
ways remain in the left-hand

*2&+,//$5($6 lane of the carriageway un-


less overtaking.”
The road cops tweeted:
“Be aware and alert of the
route you’re taking and the
A UNIQUE FOOD AND FILM EXPERIENCE IN THE

 
  
traffic flow around you. Stay
STUNNING LOCATION OF CLIVEDEN HOUSE
left, unless overtaking.”
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