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Somerset Council Faces Over £91 Million Loss on Commercial Property Investments

Monday, July 6, 2026 somerset council investments property losses commercial assets borrowing sales debt

Since its establishment in April 2023, Somerset Council has sold 48 commercial properties originally inherited from four former district councils, incurring a total loss exceeding £91 million. The ongoing sales are part of a strategic move to reduce debt and support front-line services amid funding challenges. The inherited assets—ranging from retail outlets like Marks & Spencer and Wilko in Yeovil, to industrial units and business parks—were initially acquired by the former Mendip, Sedgemoor, Somerset West & Taunton, and South Somerset councils.