ONLY three of West Somerset Council's 203 assets are currently financially viable, a new report has found.

If nothing is done, it is estimated the maintenance of the assets, which range from the council offices to bus shelters, will cost the council £5 million over the next 30 years.

The three currently financially viable assets are Minehead's Jubilee Cafe, the Roughmoor Industrial Estate and the council's headquarters in Williton.

The council is now looking to implement a new asset management strategy in order to make the most of its real estate.

Cllr Mandy Chilcott said: "To this point our maintenance of those assets has largely been reactive, and this report and new strategy will help us manage those better.

"It looks ahead 30 years, and that price of £5 million is the estimated upkeep for new windows, doors, roofs if we keep all our assets.

"Before any asset will be disposed of, there is an options appraisal. This will look at what is best to do in each case, is it best for West Somerset Council to keep hold of the asset, could it be managed differently, or would it be best to dispose of the asset? Ward councillors will be consulted in each case.

"It is about making the most of each potential building. For example, we had the empty visitor centre down on the seafront, and bringing in Channel Adventure has helped make the whole seafront a more vibrant place."

According to the report written by the council's asset manager Tim Child, only four of the assets are essential to retain from a 'non-financial' perspective - these are Watchet Lighthouse, the harbourmaster's office in Watchet, West Somerset House and its boiler house.

Financially, the council's strongest performing asset is expected to be the Roughmoor Industrial Estate, which is estimated to bring in £1.1m over the next 30 years.

The report states: "47 of the 84 building assets will require an estimated £5,170,000 of expenditure on key components such as roofs, doors and windows. Of this amount, £1,208,420 is required within the next five years."

As part of the new strategy, the council will look to maximise rental income and minimise liability costs across its 'let' portfolio.

Among other aspects this would see the council act 'fairly but commercially' when it comes to leases, which according to the report would 'in almost all circumstances result in either a significant increase in rent, letting to a new tenant or act as an opportunity to gain vacant possession and market the asset for disposal."

The strategy also states that the council will 'seek to dispose of as much non-operational land and infrastructure as possible by either community asset transfer or commercial sales'.

To try and generate further revenue, the council will also seek to acquire new assets where 'there is a sound business case to do so'.