RDA confirms asset sales


The South West RDA has confirmed that it will be selling major assets across the region worth over £40 million.

The Government, which is closing all the RDAs across the country, said ‘packages’ of major assets can now be sold to three local authorities in region (Cornwall, Plymouth City and Gloucester City councils).

In addition to the local authority sales, some 33 assets across the region will be sold separately at open market value. In managing these sales, the RDA says it will only consider offers matching this open market value to ensure full value for the taxpayer.

“In the circumstances, our proposals were designed to ensure maximum benefit for local economies across the region while delivering best value for the taxpayer,” said South West RDA deputy chief executive Nick Lewis.

“We’re pleased that some of our most significant assets can now continue to be developed for the benefit of local economies across the south west. That’s the reason we acquired them in the first place, so this represents the best outcome now that RDAs are being abolished.”

Business Cornwall understands that one of its more high profile assets, the Wave Hub, will stay in public ownership.