Tuesday, 30 October 2012

Get creative with your assets to fund economic recovery | Local government network | Guardian Professional

Get creative with your assets to fund economic recovery | Local government network | Guardian Professional

Empty cinema seats
An audit of local government assets revealed 20 cinemas on their portfolios. Photograph: Pulfer/Getty Images

QUOTE: "
In 1996, Oxford prison closed its doors and Oxfordshire county council took over the site's freehold from the Home Office. The council had a vision for the redevelopment of the location despite being told by property consultants that there could be no alternative use for the site.

The council initially raised around £500,000 from renting out the location to film and television companies. This covered maintenance costs and more importantly, attracted private investors to the development potential of the castle and jail combined."

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