{"id":272192,"date":"2025-07-18T14:00:17","date_gmt":"2025-07-18T14:00:17","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/272192\/"},"modified":"2025-07-18T14:00:17","modified_gmt":"2025-07-18T14:00:17","slug":"millions-raised-from-the-sale-of-council-owned-property","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/272192\/","title":{"rendered":"Millions raised from the sale of council-owned property"},"content":{"rendered":"

The City of Edinburgh Council has raised \u00a348.8 million from the sale of a range of properties, according to an investigation conducted by independent news cooperative, The Ferret<\/a>.<\/p>\n

Although city prices are higher than elsewhere, by comparison The City of Glasgow Council sold only \u00a320 million of their properties in the same period. In total, Scottish local authorities sold off 1,851 properties in recent years and between 1 January 2020 and 31 December 2024 the total value of council owned property sold off was \u00a3243 million.<\/p>\n

Edinburgh properties<\/p>\n

Some of the larger numbers in the Edinburgh figures represent land sold for residential developments such as the land at Meadowbank which will be developed for housing and which has a price tag on it of \u00a39.9 million. This and the other site at Fountainbridge which is said to have raised \u00a39.6 million make up a large proportion of the property sold off and are essentially \u201cbalance sheet\u201d transactions transferring the property into the housing revenue account. <\/p>\n

Finance and Resources Convener Cllr Mandy Watt explained: \u201cDespite the financial challenges Edinburgh Council has faced over many years, the sale of council owned properties has mainly generated funds to invest in better schools, homes and workplaces. There have also been disposals as part of the community asset transfer programme, which allows local groups to bid for council land and buildings for community use.<\/p>\n

\u201cIt\u2019s common practice for us to transfer land from our general fund to our housing revenue account. All land and buildings owned by the council are evaluated for potential social and affordable housing use before consideration is given to selling them. Sometimes we work with local community groups to develop a place plan, with a mix of housing and commercial buildings, so that areas have local jobs and services in addition to much needed new housing. This is what we are doing at Meadowbank and at Fountainbridge.\u201d<\/p>\n

Edinburgh has sold off five schools \u2013 although this is usually where they have committed to building a new school in the same catchment area.<\/p>\n

STUC<\/p>\n

The Scottish Trades Union Congress commented on the sales saying that the scale was \u201calarming as it is unsurprising\u201d. Deputy general secretary Dave Moxham said that local authorities are \u201cswinging the axe\u201d at services which provide vital support for everyone in our towns and cities\u201d.<\/p>\n

This comment reflects the outcry when Edinburgh council agreed to \u201csell off\u201d \u2013 (actually this was achieved by means of a long lease) \u2013 the property at Infirmary Street to the Edinburgh Festival Fringe Society. Previously several third sector groups used the building which the Society are now renovating with the aid of around \u00a37 million of UK Government funding to create a Fringe hub.<\/p>\n

In emotional deputations to the council<\/a> the third sector groups explained why this central location was crucial to their work, but this did not prevent the transfer of the property off the council\u2019s books.<\/p>\n

\"\"Work has begun at the former South Bridge Resource Centre to convert it into the new Fringe Hub<\/p>\n

COSLA, which represents Scotland\u2019s local authorities, said that while councils \u201cwork hard to continue running high-quality services\u201d, they face significant budgetary challenges. \u201cThis means that in some cases they have had to make difficult decisions about which properties and services they can continue to run,\u201d said a spokesperson.<\/p>\n

\u201cCOSLA will continue to advocate for a fair budget settlement for Scottish local government that recognises the importance of local decision making in getting the best outcomes for our communities.\u201d<\/p>\n

Meanwhile the Scottish Government has repeatedly said that it has given Scottish councils a record payout this year of \u00a315.1 billion. The government claims \u201cthis is a real terms increase of 5.5%\u201d.<\/p>\n

Meanwhile local authorities have to pay wage rises, additional employer National Insurance contributions, all amid higher demands for their services \u2013 including health and social care where there is a shortfall of an estimated \u00a350 million.<\/p>\n

The list of properties sold in the capital includes these:<\/p>\n<\/p>\n

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\"\"Edinburgh City Chambers. \u00a9 2023 Martin McAdam<\/p>\n

\"\"<\/a><\/p>\n

Founding Editor of The Edinburgh Reporter.
Edinburgh-born multimedia journalist and iPhoneographer.<\/p>\n

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