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RBWM may sell office buildings for £10m to help its finances

The council is considering selling off Reform Road assets worth more than £10million in a bid to fend off further costs from running them and help its financial situation.

Office buildings in the centre of Maidenhead are ‘beyond their economic life’ and should be sold off, Royal Borough
officers have said.

These include Clyde House and the Project Centre.

The council would lose up to £184,000 of income a year from selling off its assets – but council officers are still convinced it is the best choice for the Royal Borough’s
finances.

Since October 2023, the council’s finances have ‘significantly worsened,’ says a report on the proposed sale, to be presented to cabinet next week.

This makes asset sales to reduce borrowing and improve the revenue position ‘even more critical’.

The council’s Reform Road asset comprises previously developed and partially vacant employment land spanning 13,500sqm.

It contains 13 buildings, let on long ground leases (when a leaseholder makes regular payments to the freeholder, giving income to the landowner).


This includes the cleared Waldeck House site, Clyde House, Project Centre and car park.

Waldeck House was demolished because it was ‘posing a financial liability … plus [had] health and safety concerns.’

“Clyde House and the Project Centre are reaching or at a similar position,” wrote officers.