The LibDem geniuses over at West Berkshire Council have decided to sell off the Council’s commercial property portfolio, giving up £1.3 million a year profit. Quick to publicise their new strategy, they announced to the entire commercial property market that they needed to sell it all off soon, even including figures showing how they willingly expect to lose £11 million in the process. Twelve hours later, CoStar, the world leading commercial real estate newspaper, splashed the fire sale on its front pages, likely resulting in a sale price plummet…   

“I can’t think of anything more commercially inept than announcing to the market that you need to sell all your assets with a hard deadline. Within hours the biggest commercial property newsletter in the world was advertising the sell-off on its front page. This one act of recklessness will likely cost West Berkshire residents millions of pounds in capital receipts which could have been invested in our district.”