Wednesday, October 30, 2013

More than £5.1 million of surplus property disposed of


The Isle of Man Government has made solid progress in cutting the amount of office space it rents and the number of buildings it owns.
In recent years, Government has reduced annual spending on rentals by over £700,000 and expects to more than double these savings by 2018. Government has also disposed of more £5.1 million of surplus property in the last two years against an initial target of £4 million for the period.

The initiative is considered good for the overall economy, freeing up space for private sector expansion, as well as producing capital income and revenue savings for Government. In terms of rented accommodation, Government has released substantial areas of floor space in Douglas and is continuing to explore ways of driving costs down further by more consolidation of operations within its owned property.

This is a cross-Government exercise with all Departments engaging to help make the most of the Island’s property resources. Disposals so far include former police stations, doctors’ surgeries, bus depots, electricity retail outlets, office premises and underutilised land and buildings. The disposals are part of a considered strategic program. Sites and buildings that are identified as crucial to the delivery of Government services into the future will be retained. 

Story:
http://tinyurl.com/o92hbjz

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