Pub Acquisitions

Woking Borough Council purchased multiple pubs in the borough using money borrowed from the Public Works Loan Board. The acquisitions added to an already unconventional portfolio of commercial investments.

The purchase of pubs by a local authority using publicly borrowed money raised obvious questions about whether this represented an appropriate use of taxpayer-backed funds and whether the council had the expertise to operate such businesses.

The pub acquisitions, while relatively small in the context of the council's overall debt, illustrate the breadth of the commercial strategy and the extent to which the council was willing to invest borrowed money in unusual ventures.

The current value and status of the pub portfolio is under review as part of the broader assessment of the council's assets.