Published: Friday, 24th March 2017
Sevenoaks District Council has purchased an office block in Sevenoaks as part of its continuing financial self-sufficiency plans.
The Council completed on the purchase of the property at 26/28 Pembroke Road on 24 March 2017 for £4.455 million.
Sevenoaks District Council will no longer receive any direct funding from government from this year, By purchasing the property, the Council will generate close to £280,000 a year in income to help support the funding of important local services. At the same time the purchase will protect local office space.
The three-story self-contained modern offices is let to an existing tenant for a number of years.
Cllr Peter Fleming, Leader of Sevenoaks District Council, says: "With this latest property purchase ,we are not only safeguarding vital local office space, we are set to generate a healthy return on our investment, which will benefit our residents. At a time when we will no longer receive any direct funding and interest rates remain historically low, this purchase, together with our other investment properties, will ensure we continue to protect services such as weekly rubbish and recycling collections that residents tell us they really value."