County council buys £11m Sussex office building

West Sussex County Council has bought an office building for more than £11 million.

Tuesday, 20th November 2018, 12:52 pm
Updated Tuesday, 20th November 2018, 12:56 pm
CC3, Crawley
CC3, Crawley

It is the new owner of CC3 Churchill Court, Manor Royal, Crawley.

The council said the building would be ‘an excellent opportunity to generate long-term rental income’ which can be spent on services.

A council spokesman said: “The county council is taking action to secure new, long-term funding sources for the services it provides residents.

“Faced with reducing funding from central government grants, and in common with other local authorities, the county council has had to identify alternative, long-term funding sources.

“With this in mind, it has purchased CC3 Churchill Court, Manor Royal, Crawley, for £11.25million.

“The recently-refurbished building comprises 27,309 sq ft of flexible, grade-A office space across two floors and has a long-term tenant.”

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Cllr Jeremy Hunt, county council Cabinet Member for Finance and Resources, added: “This purchase represents an excellent opportunity to generate long-term rental income, which can then be invested in the public services we provide for our residents.

“Central Government has reduced its grant to local authorities, so we have had to find other funding sources. We prudently set aside capital monies to invest in commercial properties, such as Churchill Court, which are already let to high-quality tenants on long leases.”