The municipality of Croydon won £ 10m by selling property
The municipality of Croydon in England has been short of cash for some time. The municipality earned 10m euros by selling land and property.
According to published budget investigations, the municipality of Croydon sold 10m euros of property. The most valuable properties the municipality sells are the Addington Palace Golf Club sold for a million euros and the West Croydon Bus Garage for £ 560,000.
The city council has earned a total of £ 10,589,146 from 32 land sales between the years 2014-2018. The council says the money helped to “protect jobs, frontline survives and allow for much-needed local homes”.
Among the major assets sold are the former council offices of £ 4,070,000, the Addington Palace Golf Club, £ 1 million and the West Croydon Bus Garage.
In the UK, local governments have large financing deficits, so many municipalities are selling public land.
One of the important buildings that the municipality sells is the Addington Hills cooling station for £ 280,000 in 2018. In addition, the municipality sold the land adjacent to Auckland Rise, Church Road and Sylvan Hill in Upper Norwood in 2018 to £ 1,327,071. At the same time, in Upper Norwood, the land south of 73-131 Marston Way was sold for £ 948,156 on the same year.
HuffPost has revealed data from the UK and the Office of Investigative Journalism.
Sevdenur Demir / [email protected]