Taunton considers buying Trafalgar House to secure depot space, earn rental income, and gain a backup location for future.
It was part of their plan to streamline property. Taunton could now buy the whole building. This protects their initial investment. The town could also earn money.
They can keep renting out the remaining units. The lease currently costs £32,000 a year. Service fees add about £2,000 more each year. Somerset Council owns all of the building.
The units need some work to suit Taunton’s use. Taunton agreed to make an offer on the building. This happened in December 2024. The town clerk needs to share the offer.
They will use a loan to buy it. Taunton plans to pay back the loan with rent money. This will not increase taxes for 2025/26. Taunton stated they will borrow from the government.
This loan is through the Public Works Loan Board. They say buying has many advantages for the town. The purchase secures the depot’s long-term home. Investing in unit improvements benefits the town.
It will be property they own, not rent. The town council gains options for the future. This includes a backup location. It works like a second base if Deane House has issues.
Taunton wants residents’ opinions on buying. People can share their views. Complete the questionnaire on Taunton’s website. It closes at 5 p.m. on February 21, 2025.