3m sale of vacant Leicester properties
Fri, 28th November 2014

£3m sale of vacant Leicester properties

A number of vacant building across Leicester have been sold by the city council for more than £3m, which will be reinvested in the city.

Two former care homes for the elderly were part of the five-strong portfolio which was sold for £3.2m. Both buildings were purchased by two nationally-established private care home providers, with a view to running them as care homes.

The Douglas Bader Centre in St Matthews, which closed earlier this year due to rising costs and falling user numbers, was sold for £837,000 to local community organisation Dawat-e-Islami.

The finance from the transactions will be reinvested in Leicester City Council's capital programme, which has set aside £51m for new primary school places, elderly care facilities and disabled facilities grants.

Next year, it will invest £50m in communities and estates across the city.

Leicester city mayor Peter Soulsby said: "This is part of an ongoing process of the city council selling its unused buildings so that we can reinvest the money in the city – including our schools, our elderly residents and the city's economy.

"The results of this auction are very encouraging, and have raised a significant sum which will be put to good use in communities across the city."

category Midlands  |  source Insider Media