West Lindsey District Council buy another property as part of its investment strategy

Another property has been purchased by West Lindsey District Council as part of the investment strategy.

The council has brought Boyes at Unit 1 in Heaton Street, Gainsborough for £1.1 million making it, the fifth purchase to date.

Coun Jeff Summers, leader of the council, confirmed there will be more property purchases in the coming months to support local services.

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He said: “I am pleased to announce that we have purchased another property in our district as per our agreed Investment Strategy.

“The latest purchase, which is in Gainsborough has passed our stringent, 14-point scoring criteria, giving us confidence it was the right move.”

The five investment acquisitions concluded to date, a total spend of £15.1m, and generate a diverse and sustainable contribution to the council’s revenue, which can be grown over the medium-term.

Ian Knowles, executive director of resources at the district council, said: “We are not alone in our approach to investment opportunities.

“Our investment strategy was approved by the council’s Corporate Policy and Resources Committee in April 2017.”