11/06/2026
I chaired last night’s NTC meeting, and pleased to confirm Newport Town Council have taken a prudent and forward-looking decision to secure its long-term financial future by moving forward with purchasing an investment commercial property on the High Street.
I want to reassure residents that the decision to acquire a commercial property as an income-generating asset is not about spending for the sake of spending; it is about making existing reserves work harder for the benefit of our community. By investing in an asset that can provide a steady income stream, the Council is helping to reduce future pressure on local taxpayers while creating opportunities to support and enhance services for residents.
Importantly, investment in commercial property forms part of the Council’s Strategic Plan, which was ratified at last night’s Full Council meeting. This is not a sudden or isolated decision, but part of a considered long-term strategy designed to strengthen the Council’s financial resilience and support the delivery of services for residents.
There has been some discussion about the confidentiality surrounding the purchase price and negotiations. It is important to recognise that this is standard practice in commercial property transactions. Publicly disclosing an offer while negotiations are ongoing could undermine the Council’s position and potentially cost taxpayers more money. Protecting commercially sensitive information until a transaction is completed is not controversial, it is simply responsible financial management and a sensible way of safeguarding public funds.
The principle behind this investment has already been publicly discussed, including at the recent Annual Town Meeting, and subject to the recent consultation process, where residents were informed that the Council was considering using a portion of its reserves (£300-£350k) to acquire a property and generate long-term income for the town.
I am encouraged by the Council’s confidence that its finances remain robust, with substantial reserves retained and no borrowing required. Most importantly, my colleagues and I are excited by the potential this acquisition presents for Newport’s future. Sound financial planning today helps ensure that our town remains financially resilient and able to invest in the services and opportunities that matter most to residents in the years ahead.
I would also like to place on record my sincere thanks to our Newport Shropshire Town Council officers for their professionalism, diligence and hard work. Their expertise, advice and commitment continue to help deliver for our community, and their efforts behind the scenes are instrumental in ensuring that decisions such as these are taken responsibly, transparently and in the best interests of the town.
I look forward to seeing the positive benefits this investment can bring to Newport and its residents in the years ahead.