Thurrock Council to sell nine assets to reduce deficit
Stuart Woodward/BBCA council that is effectively bankrupt has revealed a list of nine assets it intends to sell to reduce its deficits.
Thurrock Council was left with debts of about £1.5bn following a series of failed investments in solar farms.
The local authority previously outlined its hopes to recoup about £1bn from its investment portfolio.
The list of assets to be sold include car parks, industrial estates and a former library.
The assets to be sold, which are separate to the investment sale, include:
- Former Aveley library and public hall site, Aveley
- The Civic Offices, Grays
- Land at Thurrock Parkway in Tilbury
- The Crown and Darnley Road Car Parks in Grays
- 85 Coronation Avenue, Tilbury
- The former Youth Offenders Office in Corringham
- Manor Way Industrial Estate, in Curzon Drive
- Hume Avenue/Dock Road in Tilbury
- Land at Tank Hill Road in Purfleet
All of the assets have been agreed for sale by the council's cabinet.
It is understood they are just the first tranche of a number of assets to be sold by the authority.
Andrew Jefferies, leader of the Conservative-controlled council, said: "It will not be a fire sale, we absolutely must get best value.
"We've got a whole team working on it to decide which assets we should sell to reduce the debt."
Follow East of England news on Facebook, Instagram and X. Got a story? Email eastofenglandnews@bbc.co.uk or WhatsApp 0800 169 1830.
