Councils and investment: keeping it local

Councils have been criticised for putting money into property instead of spending on services – but James Gulliford, joint head of UK investment at Savills, says it’s a wise financial move.

The actions of one group of investors has garnered a disproportionate amount of UK media coverage in the past 18 months beyond all others: local authorities.

Savills data shows local authorities look on track to exceed 2017’s £1.85bn of spending this year, having already invested nearly £1bn in UK commercial property in 2018. However, they still account for only 3.4% of the total UK