Tories warn over city's 'Sale of the Century!

Conservatives on Bristol City Council have warned of the dangers of covering budget overspends and poor financial management through flogging-off the city's property assets.

Their charge follows confirmation at last night's Cabinet meeting that the Labour-run City Council is to sell £55 million of assets over the next four years to help pay for projects such as the Museum of Bristol and the regeneration of Hengrove Park.

Among the disposals will be the O and M sheds on Welshback, allotments in Avonmouth, Cabot House in central Bristol, and the sites of Fulford Special School, Petherton Road School, Lockleaze School, Novers Lane School, Romney Avenue School and Dunmail School for housing purposes.

The amount of money the Council needs has been significantly revised upwards to take into account overspending on major projects such as the Museum of Bristol (£5.1 million over budget), the building of Redland Green School (£3.5 million over budget) and the planned Hengrove Healthplex (£2.6 million over budget).

Bristol Tory Leader, Councillor Richard Eddy said a good case could be made for utilising the city's property assets but cautioned against "selling the family silver" at a time when the property market was widely forecast to fall.

Cllr Eddy (Con, Bishopsworth) said:   "Given its miserly Central Government settlement, the City Council would be negligent if it wasn't actively managing its property assets to best effect.

"As a Council, Bristol is property-rich but income-poor and selective disposals to realise key projects like the regeneration of Hengrove Park are perfectly sensible."

"However, the ability to sell land easily is no justification for sloppyproject management and cost over-runs."

"Conservative Councillors are closely monitoring asset disposals and will oppose them wherever the Council taxpayer is not seen as getting a good deal."

Back to Local News Index 7 December 2007