Birmingham City Council has paid nearly £4 million in empty rates and council tax since 2009 on the vacant buildings in its £5 billion property bank.

The council is sitting on a vast collection of commercial assets, which includes stakes in the NEC and Birmingham Airport as well as Perry Barr greyhound track and several pubs such as the White Horse in Harborne.

The local authority has shelled out £1.2 million this financial year alone on rates for the empty commercial buildings it owns, on top of the £1.1 million it paid in 2010/11 and £1.3 million in 2009/10.

See the data for yourself - http://videos.icnetwork.co.uk/birminghampost/BirminghamCityCouncilassets.xls      

The figures raise questions about whether the council should accelerate the sale of non-essential buildings at time when front-line services are coming under intense financial pressure.

But experts in the property market believe now may not be the best time to do so, and the council insists it will not embark on a sell-off of its “family silver”.

A Birmingham City Council spokesman said its commercial property portfolio generates a total income stream of around £25 million and it was in the best interests of the taxpayer to hold on to them.

“The council uses to the money to support its revenue spend and thereby keep its council tax down,” he said.

“The portfolio has been built up over 150 years largely from ad hoc purchases and the development of the council’s estate.

“The council’s strategy and objective is to retain a portfolio that produces a reliable income stream, contributing to the council’s challenging revenue budget and also providing long-term sustainable growth of the asset value.”

The figures have come out as Communities Secretary Eric Pickles urged all councils to publish lists of the land and property they own so local taxpayers and businesses can spot money-raising opportunities or identify potential sites to buy.

He has told local councils to take a “good hard look” at their assets, with the ultimate aim of finding new ways to use them, improve local services, keep council running costs down and save taxpayers’ money.