Somerset Council has completed the sale of its property at Aztec West, Bristol.

The building is one of many commercial assets that the Council is disposing of as part of its property rationalisation programme established in response to the financial emergency.

600-650 Aztec West was a legacy investment included in the portfolio of commercial properties bought by Sedgemoor District Council at a time when the Government of the day encouraged them to operate commercially as a measure to counter funding pressures.

Somerset Council had agreed to explore other potential legal options available to it as the landlord of the building following significant public concern. It was concluded that sale was the only viable way forwards. Details of the sale remain commercially confidential at this stage.

Cllr Ros Wyke, Lead Member for Economic Development, Planning and Assets, said:

We are committed to the sale of our commercial investment properties to achieve capital receipts which will help to bridge the budget gap for 2024/25 and 25/26.

This approach is in response to the well documented financial emergency facing Somerset Council and the capitalisation direction approved by the former Government which encourages us to sell surplus property and assets, and use the receipts to fund essential services, like adults and children’s social care.

We will continue to call on the new Government to take urgent action to fix the system of funding local government which is fundamentally broken.

Other commercial assets recently sold as part of the property rationalisation programme include Steelite in Stoke-on-Trent, and 27-29 Sherwood Road in Bromsgrove.