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Council Commercial Property Vacancy Rate has Halved in Just Three Years

October 11, 2019 2:05 PM
Originally published by Bedford Borough Liberal Democrats

Cllr Jake SampsonBedford Borough Council's commercial property vacancy rate has more than halved in just three years, a report has revealed. Figures included in a report to last night's Budget and Corporate Overview and Scrutiny Committee show that the number of vacancies across the Council's Commercial property portfolio has plummeted from 15 in 2016 to just 6 in 2019.

The vacant units represent a tiny proportion of the Council's commercial estate, which includes 340 units in total. In addition, of the 6 empty units, four are under offer.

Liberal Democrats on the Committee praised the Council's Commercial Property Team for the performance.

Commenting, Liberal Democrat Budget and Corporate Committee Spokesperson Cllr Jake Sampson said: "It's excellent news that the vacancy rate for the Council's commercial property is so low.'

"In the face of severe funding cuts from government, it's vital that the Council does all it can to maximise revenue from other sources. So such a high occupancy rate like this is great news for the council and a good sign for the local economy."

The report can be read in full at: http://www.councillorsupport.bedford.gov.uk/documents/s47261/Item%2007%20-%20Commercial%20Estate%20Overview.pdf