Somerset's four district councils have invested more than £200 million between them in commercial property in order to fund front-line services.

Local authorities across the UK have been buying up property, using the rental income to make up for reduced grant funding from central government.

Each of the four councils has poured taxpayers' money into a range of investments, ranging from offices and warehouses to housing projects and business parks.

Between the four of them, an eye-watering £202,427,000 has been invested to date – and here's where it all went:

Mendip District Council – £47.89 million

Of the four district councils, Mendip has invested in the smaller number of properties – though each of its investments (approved in confidential session by the phoenix sponsorship board) has involved substantial amount of money.

Here's a list of the commercial investments held by Mendip, in the order in which they were purchased:

Newhouse Park, Chepstow – £8.71M

Wootton Bassett Road, Swindon – £7.877M

Pydar Street, Truro – £4.425M

Commerce Park, Frome – £4.801M

430 Bristol Business Park, Bristol – £6.425M

Barnwood, Gloucester – £3.75M

The Fermentation Building, Bristol – £11.9M

Councillor Barry O'Leary, portfolio holder for enterprise and finance, told the full council on February 22 that a very cautious approach to further investments would be adopted in light of the ongoing coronavirus crisis.

He said in his written report: "No new additional investment properties have been purchased during 2020-21.

"The total potential income from these properties is now £3.037M. The impact of the pandemic has seen several of our existing tenants falling behind with their rental payments, but to date no income has been foregone.

"The financial viability of our tenants is extremely good, and the hope is that they can all endure the effects of the pandemic.

"Based upon our risk-weighted approach, the base budget for commercial income will be reduced by £250,000 for 2021-22. If full recovery of rents is possible, then we will benefit from the additional funding during the year."

Sedgemoor District Council – £43.47 million

Sedgemoor has seen the value of its property portfolio drop significantly in the last 12 months, predicting that just over £3M will have been lost by Wednesday (March 31).

Here's a breakdown of its investments, comparing the purchase price of each property with its estimated current worth:

Street Retail Park, Gravenchon Way, Street – purchased for £8.245M, now worth £6.5M

TK Maxx, 48-50 High Street, Worcester – purchased for £8.526M, now worth £8.07M

106-114 Gloucester Road, Bristol – purchased for £2.354M, now worth £2.28M

Unit 1b, Sowton Industrial Estate, Exeter – purchased for £3.951M, now worth £4.017M

600 & 650 Aztec West, Bristol – purchased for £7.847M, now worth £7.29M

NCP Car Park, Bournemouth – purchased for £5.338, now worth £5.009M

Clink Retail Park, Bridgwater – purchased for £2.511M, now worth £3M

Leggar Retail Park, Bridgwater – purchased for £7.696M, now worth £7.3M

Alison Monteith, the council's finance officer, told the executive committee on March 17 that the decrease in the commercial value of the council's investments was not a cause for concern at this stage.

She said in her written report: "We invest in UK commercial and residential property with the intention of making a profit that will be spent on local public services.

"The total cost of purchases includes all expenses such as tax, legal and consultancy fees. When the property is subsequently valued it is on the basis of investment yield.

"It can sometimes take several years for the valuation to match or exceed the original purchase costs."

Somerset West and Taunton Council – £37.17 million

Somerset West and Taunton Council currently has the lowest value property portfolio of the four districts – which is not entirely surprising, given that it was only formed in 2019.

However, the council has hinted it could invest significantly in property over the coming 12 months, potentially outstripping each of its three neighbours.

Here's a rundown of the council's current investments, from largest to smallest in value:

Wickes Extra, Birmingham – £9.81M

Aztec West Business Park, Bristol (unspecified number of units) – £9.1M

B&Q store, Ayr – £6.6M

The Range, Halifax – £5.445M

Mecca Bingo, Corporation Street, Taunton – £1.614M

Roughmoor Enterprise Centre, Roughmoor Lane, Williton – £1.405M

Blackdown Business Park, Scott's Lane, Wellington (four units) – £1.308M

The Arcade (formerly The Carousel or K's), Warren Road, Minehead – £314,000

Other investments (under £250,000 in value) – £1.577M

The council previously owned a scrap yard on Priory Way in Taunton, but this was recently sold off for £546,000.

This list does not include any of the council's regeneration site, such as Firepool and Coal Orchard in Taunton or the Seaward Way site in Minehead.

Martin Henwood, the council's corporate finance advisor, told the executive committee on March 17 that the scale of investment was "an essential response" to the cuts in government funding since the credit crunch.

He said in his written report: "We invest in a diverse investment property portfolio, both locally and nationally, with the intention of generating surplus income that will be spent on local public services delivered within the district.

"This is an essential response to significant reductions in government funding over recent years and further reductions expected in future, in order to meet our service delivery objectives and avoid service cuts.

"We plan to increase our investment by up to £100M by the end of 2021/22."

South Somerset District Council – £73.9 million

South Somerset District Council currently has both the largest number of properties and the highest value portfolio of the four councils.

Here's a rundown of its investments, starting with the most recent:

54 Willis Way, Poole (former Fitness First headquarters) – £2.55M

Sherwood Road, Bromsgrove – £3.7M

King William House, Bristol – £5.4M

Alchemy, Welwyn Garden City – £9.73M

Centurion Mill, Sowton Industrial Estate, Exeter – £4.2M

'The Ralph' veterinary referral hospital, Marlow – £5.95M

B&Q store, Glastonbury – £4.405M

Reevesland Industrial Estate, Newport – £2.78M

Business Park, Christchurch – £7.05M

Bell House, Milton Keynes – £2.925M

GoCompare Headquarters, Newport – £4.66M

Linden House, Bristol – £2.75M

Units 1 & 2 Dunball Industrial Estate, Bridgwater – £3.025M

Battery energy storage facility, Taunton – £9.84M

Battery energy storage scheme, Fareham – £18.96M

Wilkinsons store, Yeovil – £4.23M

Residential development (converting former nursing home into 15 flats and three houses), Marlborough – £4.29M

Marks and Spencer store, Yeovil – £7.65M

Robert Orrett, the council's commercial property land and development manager, told the district executive committee in December 2020 that the council's investments had been relatively resilient to the ongoing pandemic.

He said in his written report: "Our rent collection across the investment property portfolio was broadly unaffected, with collection figures of 98 per cent.

"Our team has focussed attention on the connection with our tenants. We have sought to show appropriate flexibility as part of a supportive attitude, but also to protect our investments.

"In terms of property acquisitions, we are keeping strategy under review as the economic piture becomes clearer."