UP to £10m could be invested in property by Winchester City Council.
The money will be used to produce rental income to support services and help compensate for the loss of a government grant.
As part of cuts from central government the city council has lost £2m over the past four years.
They are set to continue with a further £1.5m of reductions expected by 2020, and cabinet is recommending property investments with an expected return rate of up to six per cent as part of its new strategy over the next three years.

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Council leader Stephen Godfrey said: “The council needs to operate in a more entrepreneurial manner, and through this scheme we will be stepping into a much more commercial way of working.”
The ‘Strategic Asset Purchase Scheme’ will focus on the two Local Enterprise Partnership (LEPs) areas of which the City Council is a part: the Solent LEP and the Enterprise M3 LEP.
The scheme should support the Council’s ambition to be self-reliant in income streams in the long-term, and will focus wherever appropriate on purchasing local commercial investments.”
“Many councils across the county and country are engaging in schemes such as this; we see it as part of our wider diversification of investments. 
This initiative alone will not insulate the Council from the financial challenges it faces, but it is a key element of the overall efficiency plan that we expect to deliver in the next three years.”