Industrial leasing is boosting Council income by £1.4m

Council cashing in on leased industrial units
Council cashing in on leased industrial units

INDUSTRIAL UNITS UNDER the ownership of Moray Council managed to generate over £1.4million in rental income for the local authority last year.

That was the good news given to councillors earlier this week when they welcomed a report that the income generated had shown an increase of almost £600,000 in the last ten years.

Councillors were told that there is an occupancy rate of 94% over the 160 industrial buildings owned by the local authority. The report before the economic development and infrastructure committee said: “Four additional serviced sites in Keith were also delivered in 2014-15 which will allow businesses to build their own purpose-built premises.

“Barring an unforeseen change of circumstances in the local economy, occupancy levels will continue to remain generally high in the short to medium term.”

Welcoming the annual report committee chairman, Councillor John Cowe, said: “The council’s ongoing commitment to providing units for new and growing businesses is vital in helping the Moray economy to diversify.

“The fact that occupancy rates are high right across Moray demonstrates that we are providing the type of premises that businesses want and at realistic rental levels.”