Woodstock gains substantial benefit from the rental income from its property portfolio, which includes:-
The Town Hall, a listed building of major historic significance:
– it is the hub of Council business
– the Mayor’s Parlour is a licensed venue for weddings, also where Council meetings are held. The Mayor’s Parlour has recently been redecorated with new curtains and soft furnishings added too.
The Assembly room situated on the first floor with kitchen facilities, stair lift for easy access, which is used for many local activities and is also licensed for weddings. It also displays the wonderful wall hangings depicting local history.
The Community Centre houses:
- a large hall available to hire with a well equipped kitchen and bar area
- offices on the upper floor that are leased along with an office on the ground floor plus other individual rooms commercially rented.
The Post Office, Park Street properties and Market Street shops including:
2 Market Street – Commercial and residential
4 Market Street – Commercial and residential
2 Park Street – Commercial and residential
4 Park Street – Residential only
6 Park Street – Commercial only
8 Park Street – Residential only
24 Market Place – Commercial
These properties are managed on behalf of the Town Council by Property Consultants Breckon & Breckon, tel 01993 811881.
The capital value of these assets are estimated to be in the region of £8.2 million pounds, with annual income in the region of £93,771. The Town Council has a duty to ensure good value to the ratepayers in the town but, within these clear audit responsibilities, it seeks to encourage a diversity of retail services from its commercial properties. The net financial benefit varies from year to year depending on maintenance and improvement costs, but is typically in the order of £50,000. Some of this income is held in capital reserves for future maintenance.