The longest pleasure pier in the world and a Grade II-listed sculpture are among a city’s heritage assets worth \u00a330m, councillors have heard.<\/p>\n
In an annual report to Southend-on-Sea City Council, auditors revalued the landmark pier at \u00a325m and said the 1971 Civic Fountain by William Mitchell was also worth millions.<\/p>\n
Conservative councillor Judith MacMahon told the audit and governance committee<\/a> there was concern assets could be overlooked because their historic value was not known, including other Mitchell sculptures within the council building.<\/p>\n She added his work was worth “astronomical amounts of money” and there was a financial risk to the council if they were undervalued and then damaged.<\/p>\n After being informed there was sometimes difficulty in valuing assets such as statues, Ms McMahon said: “I explored it in comparison to pieces of work that had been purchased in the States and you were talking in millions. <\/p>\n “You’re not talking any less than that.<\/p>\n “A piece of his concrete that was about one foot square sold for \u00a3100,000 in an auction, so quite valuable.”<\/p>\n The auditors’ report said the authority’s land and buildings were revalued over a five-year cycle, with the pier subject to a full revaluation since the last report, said the Local Democracy Reporting Service<\/a>.<\/p>\n