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The council s commercial property portfolio A planned £180 million splurge on commercial properties has been axed by Reading Borough Council (RBC). The decision to stop investing in commercial property has been revealed in the council’s newly-released draft budget papers. RBC spent around £75 million on four commercial properties from April 2016 to March 2019, with the aim of creating extra revenue which would help to prevent cuts to public services. Councillor Jason Brock, leader of RBC, said: “The council announced a review of its commercial property acquisitions earlier in the year and will now remove the scheme from its financial strategy. “The portfolio we have acquired to date is suitably balanced and continues to generate revenue that is used to support service delivery for residents and gives the council a direct stake in the economic success and vitality of our town.”