East Hampshire District Council has added to its property portfolio with a premises offering a ‘rock solid income’.
Wear View House has been used by the Government, most recently the Department for Communities and Local Government, for more than 20 years.
The £8.9m building is home to more than 500 staff and serves as a key regional call centre handling unemployment claims and jobseekers.
Simon Jenkins, EHDC Director of Regeneration and Place, said: “Our property team examines the market looking for the best investments.
“This property has a tenant with a long-term commitment to the site, provides an attractive return and offers us a rock solid income.
“Councils have had to find new ways to generate their own income and our strategy to build a balanced and diverse property portfolio has helped us maintain our excellent public services and put £1.5m towards community and welfare projects.”
The council’s portfolio now stands at just over £110m.