September 1, 2017
New property scheme launched to cut the cost of empty space in NHS buildings
A new scheme to help the NHS cut the costs of empty space in their buildings has been launched this week by NHS Property Services (NHSPS). Properties that qualify for the scheme must be deemed surplus to NHS requirements and may be re-let, disposed of or considered as a development opportunity. The new Vacant Space Handback Scheme comes in response to feedback from commissioners who want to reduce the cost of maintaining space that is no longer needed for clinical services. The cost of maintaining vacant space is kept as low as possible, though some costs are unavoidable where rent, business rates and some service charges remain payable. The total amount and cost of maintaining vacant space in the NHS is difficult to calculate, but costs are estimated to be in excess of £10 million a year on the NHS Property Services estate.
May 1, 2017
Fresh concerns raised about council investments in commercial property market 0
by Mark Eltringham • Comment, Property, Public Sector
As we reported last month, the level of investment in commercial property undertaken by UK local authorities is raising serious concerns within both central government and the real estate sector. Now, a fresh warning has been issued by the former business secretary Sir Vince Cable that councils face potential bankruptcy if the property bubble bursts. In recent years councils have faced an average 37 percent real term cut in government funding and so have taken to borrowing large sums at low interest rates from the Treasury’s Public Works Loan Board to reinvest in commercial property ventures. The move has already been identified as risky by the Government’sown Public Accounts Committee and Cable joins a chorus of voices in expressing doubts.
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