An industrial estate is the latest in Nottingham City Council's portfolio to face the axe as part of plans to balance its books. The premises known as Stonebridge Court Industrial Estate on Alfred Street South has now been declared "surplus to the property trading account".
The disposal of the industrial asset will generate a capital receipt for the city council. Other options considered included the refusal to dispose the premises. However this option has been ruled out as it is "not viable as it presents a business risk to the Council as the asset requires capital investment to maximise its potential".
The option to introduce an active asset management approach was also ruled out as it is "not considered an effective and efficient use of resources, because of the condition of the premises". In the absence of capital expenditure, the full potential of this asset cannot be maximised, the Nottingham City Council report reads.
