Council to borrow £50 million to pump into more property
Mid Suffolk and Babergh councils are at the centre of more property investment news as they seek to pump £50 million in to further property purchases.
We all know about the ever increasing demand for social housing that councils face so plans to invest in more potential housing sounds good. Councils are also safe guarding against lower funding from the government by looking in to property both commercial and residential to bolster their annual funds.
CIFCO Capital Ltd was formed by Babergh and Mid Suffolk District Councils as a means of investing in properties such as warehouses and industrial estates, office blocks and retail – They were under fire recently as some investment property lay outside their covered regions.
Full report on this news story can be read on the East Anglia Daily Times website.