AN EXTRA £20m will be spent this year as the council looks to expand its property portfolio.

As part of its medium term financial strategy, Bracknell Forest Council (BFC) buys commercial properties across the country with the aim of securing a £3m investment return by 2019/20.

Since acquiring its first new commercial property in February 2017, five bids have been submitted, with two accepted.

Although exact details of the purchases are not yet public, one is understood to be a call centre in Yorkshire and another a distribution centre in East Anglia.

"We are very, very careful in terms of what property we look at," explained Councillor Peter Haydon, executive member for transformation and finance.

"Because our revenue support grant will disappear we have decided this is one of the ways we can maintain services. It is an extra means of making revenue.

"We can't borrow money to pay for services, that is illegal.

"We can invest to make a return to support some of services like Adult Social Care however. It is one of the ways to balance our budget."

With the properties targeted costing between £5m and £15m, BFC wants to bring forward £20m earmarked for 2019/20 to add to £40m currently available.