Powys council leader Jake Berriman has predicted the authority could make £5m in asset sales this year.

The hopeful forecast was made at a meeting of Powys County Council’s Finance Panel on 13 May, as the panel looked at an update report on the Capital Budget for 2025/2026 as it stood at the end of February.

At the meeting, councillors pointed out that the council would fall a long way short of a £10m target in annual sales.

This is because only £800,000 had been guaranteed in sales with potentially a further £1.7m in the pipeline to be finalised by the end of March.

Cllr Arwel Lewis asked for clarification on the figures and when the capital receipts would be received by the council.

Treasury management accountant James Chappelle confirmed that the £800,000 had been received during the year up to February and it was hoped with a “good wind on both sides” that the £1.7m would be completed by 31 March.

Cllr Lewis said: “That’s a lot lower than anticipated really. We’re going to be £7m to £8m short.”

Cllr Berriman said: “If you remember, full council decided it didn’t want us to pursue a £10m target.

“So, we’re not £7m or £8m short of that because they decided the target would be removed.

“It’s not as much as we would have liked but we’re operating within the constraints that we have – we’ve had a number of sales fall through.

“We anticipate £1.7m now and as far as I can see with sales that are progressing, we could be around £5m in the 2026/2027 financial year, but that’s not against a £10m target as that was stood down.”

In July last year opposition councillors voted in favour of a motion to scrap the sales target.