T: 023 8086 4500 | M: 075 4532 5209 | E: dharrison100@aol.com

T: 023 8086 4500
M: 075 4532 5209
E: dharrison100@aol.com

Councillor Davod Harrison

Debts R Us

TOYS R US
TOYS R US

It is very sad to hear that big retailers like Toys R Us and Maplins have failed.

It seems that more and more people are buying goods online these days.

I think it underlines my point about the caution required by local authorities investing in the commercial property market.

Conservative-controlled Bournemouth Borough Council has just borrowed £49 million from the Public Loans Board in order to purchase a retail park, hoping that they can make a profit of some £600,000 a year on the investment.

The risk is that, as units become empty, profits will decline and the council will be stuck with a declining asset value and still have interest to pay on the loan.

I am keeping a very close eye on what New Forest District Council are doing, or plan to do.

The idea of using commercial investments to fund public services is a very risky one.

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