It has been revealed this week that Hounslow Council has netted revenue of more than £30 million over the past decade through auctioning off publicly owned land and council housing.

West End based auctioneers ColliersCRE, who have been acting on behalf of Hounslow Council for 12 years, have raised £1,691,000 for the council over the past twelve months alone. 

Following an unexpected windfall last year when the small site of a former boys club located in Prince of Wales Terrace behind La Trompette sold at auction for £1,055,000 without planning permission off a guide price of £350,000, ColliersCRE are to auction a house in Airedale Avenue later this month.

The property, which has a guide price of £700,000 is a very unmodernised house that has been used by the Council as 2 flats but with accommodation over 4 floors is most likely to be turned back to a family home.

Simon Riggall of ColliersCRE said, "Councils in England and Wales are reputed to own more investment property that does not include schools, town halls, offices etc., than the combined value of all UK quoted property companies.  Gordon Brown knows this and as a result all public sector property owners are under great pressure to raise capital receipts rather than getting money from the Government, or putting up Council Tax."

With the news that Hounslow Council have been awarded the "floor" of 2.7% rise in local government financial settlement the council must be hoping for another windfall.

We asked the council to explain where the revenue from such auctions is deployed but have yet to receive a response despite numerous requests. 

Simon Riggall believes "Many of our sales are simply to fill a budget shortfall rather than being ring fenced."

He added "Sales have been circa £30 million and have included the Old Chiswick House gatehouse which is now flats, the pretty Georgian terrace to the left of the town hall, the mini mansion in Grove Park Gardens, the Brentford Market site by Chiswick roundabout and many more."

December 6, 2006