Slough Council’s property sales achieved only a fraction of what it had hoped

A council that had hoped to raise £600m through property sales only raised around £4.2m in the first six months of 2024.

Slough Borough Council said it wanted to make the money after the company was effectively declared bankrupt in 2021.

It had originally hoped to raise £400m by March this year – but only £223.5m was raised in that period – and a further £200m thereafter.

The most lucrative sale was the former Akzo Nobel site in Slough, which sold for £143.75 million in November 2022.

Earlier this month the Local Democracy Reporting Service (LDRS) said the council was keen on the £600m target was no longer realistic due to “a number of external factors such as market conditions and borrowing rates.”

As of the end of May 2024, the company had sold just three properties this year, raising around £4.2 million.

These included the site of the Merry Makers pub and 313/323 Trelawney Avenue in Langley, which sold for £2.91 million on March 28.

The sales also included a former GP practice at 10-12 Wheelwrights in Slough, which sold for £429,000, and a former car park and garages on Sheehy Way. This sold for £850,000.

Both properties were sold on May 31st.