Telford & Wrekin Council in confidential talks over sale of millions of pounds worth of 'assets'

Telford & Wrekin Council’s proposed medium-term budget includes asset sales of £15.749 million over the next three years, a report to the Business and Finance Scrutiny Committee revealed.

Councillors were given the first chance to delve into the details behind the council’s proposed budget for 2025-26 when they met at Southwater on Tuesday.

Opposition councillor Rachael Tyrrell asked for details of what is included in the asset sales, which are earmarked to raise some £4.6 million in the 2025-26 financial year. Asset sales can include buildings.

David Sidaway, the council’s chief executive, told councillors that the detail is ‘in confidence’ at the moment but he vowed that information will be revealed “as they come forward".

Mr Sidaway said the details of the ‘asset disposals’ are currently subject to commercial confidentiality. Councils can in certain circumstances keep those discussions out of the public eye.

“It would be wrong to share that from a commercial perspective,” he said.

An officer report presented to the councillors said that generation of these receipts is a key assumption in the budget process. It added that the council also has a “detailed schedule of asset disposals to address this".

The council also has a policy of finding savings to add to the £181.7 million it has made since 2009/10. It has earmarked savings of £12.6 million in the next financial year.

It also wants to increase the amount of money it makes from other sources, such as a solar farm it owns, and the arms-length housing company Nuplace.

The report concludes that “it is essential that we use our remaining revenue and capital resources as effectively as possible to deliver the greatest possible benefit for local people.

“The council has consistently said that it will continue to protect the most vulnerable in our society.”

The report adds that the council has sought to offset part of the loss of Government grant by generating income by adopting a ‘more commercial approach’ to many existing services.

“We have sought to ensure that this approach spreads fixed costs, maximises use of any spare capacity and where possible brings environmental, social, or economic benefits to our residents.

“We were the second council nationally to open a commercial solar farm and are continuing to invest in Nuplace, a wholly owned company, which offers high quality homes, mainly at market rents."