Mark Tizard, Anne Husar and Peter Fellows respond to a recent CRT statement.
CRT inherited a portfolio of properties from BW, some of which are needed for its operations. In a statement, it says that others were specified as investments to provide an income stream to fund ongoing maintenance. It also claims that it has to manage these investments commercially to generate as much income as possible as a condition of the Government grant agreement. To do this, it regularly sells assets if it thinks their potential to grow income has fallen and then invests the proceeds in new assets with higher growth potential. It denies it is ‘selling the family silver’ and reports that the investments now contribute more than £50 million each year to CRT funds. This compares to approximately £40 million a year from boating and mooring revenue. The statement goes on to say: “We do still own waterway-related properties like marinas and boatyards and some waterside properties with potential for development...”.