A SoMAG response to a question
NB: I’ve edited the following only for the purposes of SEO &YOAST
Dr Barbara Swan sits on the committee of the Friends of the Museum and Art Gallery. At SBC’s cabinet meeting on 13th Oct 2021 she asked this question of the Leader: ( a title I can’t hear without thinking of Daleks …)
Can the council explain the financial logic of selling off a substantial piece of property in a prime location [Apsley House], at a time when interest rates on cash deposits are very low, to part- fund a project that has no starting date as yet?
Given that property is the one asset that historically increases substantially in value, what’s the financial argument for selling the building now? Surely it makes far better sense to make the necessary repairs (which we understand you’re making in order to make it saleable) and hang on to it so the council can get maximum benefit from its future appreciation in value?