A busy year of spending saw Hackney Council supposedly outlay more than £60 million in real estate to include a Tesco site on Morning Lane and properties from Taylor Wimpey and Trading Acres. These purchases were said to have been carried out during 2016/17 a recent investigation found.
These figures were discovered from an ongoing investigation via Investigative Journalism in to the topic of gambling in amongst councils on the property market as a source of ongoing income following recent government cuts – Hambleton District Council recent report showed similar actions taking place.
Town Halls have been increasing spending / investment in to land and property to show an incredible spike from £76.4 million in 2014/15 to £1.4 billion in 2017/18.
Full story available on Hackney Citizen website.
Author: Estate Agent Networking UK
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