Richmond upon Thames Council has approved a capital investment plan totalling £303.2 million over the next six years, from 2025/26 to 2030/31. The plan, considered by the Finance, Policy and Resources Committee on Thursday 12 February 2026, outlines significant investment across the borough, financed through a combination of borrowing, grants, capital receipts, and developer contributions.

A line graph illustrating the percentage change in Council Tax, Core Spending Power, and Government Funding since 2015/16, projected up to 2026/27.
A line graph illustrating the percentage change in Council Tax, Core Spending Power, and Government Funding since 2015/16, projected up to 2026/27.

Of the total investment, £144 million is set to be financed through borrowing. The ongoing revenue cost for every £1 million borrowed is approximately £78,000 per annum over the long term (25 years+). Actual borrowing rates will depend on market and economic conditions at the time of borrowing, though projected interest rates for PWLB loans range from 3.00% to 5.94% depending on the loan duration. Specific repayment schedules for the £144 million are not detailed.

Further funding includes £105 million expected from grants, £31 million from capital receipts, and £18 million in developer contributions (£6 million for affordable housing and £12 million for general infrastructure).

The capital programme includes new schemes such as further investment in highways and pavements, and leisure infrastructure. Investments in leisure infrastructure are intended to support the partnership with GLL, leading to better gyms, paddle facilities, and improved infrastructure through equipment replacement. These improvements are projected to generate increased revenue income over the years.

A flowchart illustrating the three key stages of the Richmond Growth Plan: Partnership development through Growth Coalition, Define collaborative delivery plans and investment propositions, and Secure resources and deliver.
A flowchart illustrating the three key stages of the Richmond Growth Plan: Partnership development through Growth Coalition, Define collaborative delivery plans and investment propositions, and Secure resources and deliver.

A significant focus of the investment is on residential acquisitions for affordable housing. The council has allocated a £23 million programme to purchase an additional 50 homes, building on the 50 homes already acquired that were previously sold under the Right to Buy scheme. The council's strategy involves becoming a registered provider to directly deliver housing within the borough, which is seen as a cost-saving measure for taxpayers and a significant benefit for families who would otherwise be housed further afield. The ambition for acquisitions is constrained by market availability.

A feasibility study for a supported living scheme at Kingston Lane is also included in the capital programme. The full details of the Richmond Capital Programme and Funding Review can be found in the report here.

The Finance, Policy and Resources Committee meeting information can be accessed via the agenda frontsheet.