AN AUDIT document has revealed that Cotswold District Council has invested millions in properties in Hereford, West Bromwich and East Sussex.

These investments include the purchase of a Superdrug, a Wilkinson’s and a Tesco Express as part of a £5million investment portfolio approved in March 2010.

The council rationalised these buys on the basis that strong, existing businesses posed less risk than smaller tenants and ensured that the businesses would be able to keep their buildings in repair.

Investments in commercial properties owned by the council are generating a 7.2 per cent return per annum and are considered a key part of the council’s financial strategy.