On 16th October, the council cabinet for the Royal Borough of Greenwich will decide on how it can “unlock investment” from its property portfolio.

The proposals include making three former school caretakers’ houses available to local people on its housing register, 23 sites to be let and 11 to be sold.

Overall, the council has 788 sites totalling 6.3 million square feet. According to a council spokesperson, despite a 93% occupancy rate this is still not covering costs.

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The spokesperson added: “Councils all over London are reckoning with a legacy of huge cuts in funding from central government since 2010 and the rising costs and demand for adult and children’s social care, as well as temporary accommodation.

“We have had to make £33.7m in savings to cover our shortfall and balance our budget for the current year. Next year we’re forecasting a budget gap of at least £27m.”

With regards to any site recommended for sale, the council will invite bids through a “transparent and comprehensive process.”

Properties recommended for sale include the White Hart Road Depot (formerly Plumstead Power Station), several car parks and Thistlebrook Industrial Estate.