Somerset County Council sell off Bridgwater farm to the tune of £1.7 million (From Bridgwater Mercury)
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Somerset County Council sell off Bridgwater farm to the tune of £1.7 million
1:22pm Sunday 13th October 2013 in News
A FARM in Bridgwater has been sold off by Somerset County Council - raising £1.7 million for capital projects.
Pepperhill Farm, near Over Stowey in the Quantock Hills went for half a million over the guide price and was auctioned off as 12 separate lots.
A spokesperson from the council has said it is the eighteenth council-owned farm to be sold at auction since 2010.
A total of £18 million has been made from these sales so far, with proceeds being invested back into council services.
Around 80 Somerset farms were originally bought in the 20s and 30s, but in October 2010 the council were facing a budget shortfall of £75million and the cabinet decided to sell off roughly half of their estate.
The Conservative-run council says the money from sales will help as it still has "huge debts" which cost £33m a year to service.
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