Post by Baron von Lotsov on Apr 15, 2024 20:58:16 GMT
SOMERSET Council is set to lose £7million on a building a predecessor district council purchased in 2021.
The former Somerset West and Taunton Council bought the Steelite International Limited building in Stoke-on-Trent for £21million three years ago, with total purchase costs further amounting to £22.7million.
The building serves as the headquarters for Steelite, a global crockery company, and came into the ownership of Somerset Council in April last year.
Now, the building has been put up for sale for a price of £14million – £7million less than what the former council paid in 2021.
The former Somerset West and Taunton Council bought the Steelite International Limited building in Stoke-on-Trent for £21million three years ago, with total purchase costs further amounting to £22.7million.
The building serves as the headquarters for Steelite, a global crockery company, and came into the ownership of Somerset Council in April last year.
Now, the building has been put up for sale for a price of £14million – £7million less than what the former council paid in 2021.
Do you smell a rat?
Stoke on Trent short of cash - no problem. They will ask their mates down in Somerset to pay over the odds for their unwanted building.
Scotland short of cash, well Somerset has some spare.
Scotland informs Birmingham and so the merry-go-round with our tax money goes, taking us for a ride. Well done Tories. That was so smart.
The Stoke-on-Trent building was the biggest investment made by the former council out of a total of 12 purchases between August 2020 and December 2021, amounting to a total of £98.9million.
Other commercial properties bought include a branch of Wickes Extra in Birmingham for £9,250,000, a B&Q in Scotland for £6.6million, and a retail park in North Shields for £11,960,000.
The offices which Somerset West and Taunton Council paid £9,572,000 for in August 2020 can be seen for sale currently on Rightmove, marked 'Price on Application'.
Other commercial properties bought include a branch of Wickes Extra in Birmingham for £9,250,000, a B&Q in Scotland for £6.6million, and a retail park in North Shields for £11,960,000.
The offices which Somerset West and Taunton Council paid £9,572,000 for in August 2020 can be seen for sale currently on Rightmove, marked 'Price on Application'.
