A council that borrowed £62m to buy property across England has pulled back from investing outside its district after guidance changes.
West Berkshire Council bought nine sites as a commercial landlord to raise new income streams to pay for local authority services.
But after the guidance was issued and borrowing rates increased, it has stopped investments nationwide.
It said it was “re-assessing” its commercial property investment plans.
The council had followed the lead of other authorities over property investments, prompted by “increasing financial pressures combined with significantly reduced resources”, according to a report, external.
Since 2017, it has borrowed a total of £62.6m from the Public Works Loan Board (PWLB) – a government body issuing loans to local authorities – in order to buy properties.
The nine investments by the council acting as a landlord include: