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Vital services to continue to benefit from investments

Money to be ploughed into frontline services

The inside of a business unit being built
New units are beginning to take shape at Airfield Business Park

Our services are set to receive a multi-million pound boost this year thanks to money being generated by property investment. 

New figures show that we generated £6.9m over the last 12 months – an increase of £4m in two years.

The extra money will go into fixing and preventing potholes, delivering social care for adults and children, and other frontline services, reducing the impact of national funding reductions.

It is very encouraging to see that our portfolio of properties is thriving and performing better than the industry average.

“Our approach of bringing new life to old commercial sites and building new workspaces is creating hundreds of jobs and boosting the economy. 

“Crucially, it means we can invest money into vital frontline services, maintaining our roads, bringing down the inconvenience to people who use them, and are exploring how we can bolster social care services, supporting vulnerable people.

Land and units are bought using one-off pots of money. 

Our property portfolio now totals £145m, compared to last year’s £102m – a 42 per cent increase. 

It includes:

  • A new 100,000 sq. ft building at Loughborough University Science and Enterprise Park – creating a new HQ for tech firm The Access Group. It will create 500 jobs when it opens in July 2020.
  • Apollo Business Park in Coalville – offering 40,000 sq. ft industrial units and creating 120 jobs, construction is due to finish this month.
  • Airfield Business Park in Market Harborough – the council is expanding the site by 80,000 sq. ft to offer industrial units to let, creating more than 200 jobs. Work is set to be completed by November 2019.
  • Quorn solar farm - plans to build a 62-acre solar farm – producing clean, green energy – are being developed alongside some small business units.

We are aiming to ensure that its developments will be built as sustainable as possible, with the aim of producing zero carbon in the construction phase and be as energy efficient as possible as part of a pledge to be carbon neutral by 2030.

The Corporate Asset Investment Fund annual report and four-year strategy was discussed by Scrutiny Commission yesterday (4 September) and will be considered by Cabinet on 13 September. The meeting will be webcast at: www.leicestershire.gov.uk/webcast

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