A string of public assets including The Bull theatre, Church Farm swimming pool, Watling Avenue car park and the Deansbrook sports ground are set to be sold off this year for an estimated £5 million.

Cabinet papers revealed this week that Conservative-run Barnet Council plans to sell off £5m-worth of buildings and plots of lands in the borough, a move which has been described as selling off the family silver' by opposition Labour councillors.

Despite being told the list of threatened assets was commercially sensitive, this newspaper has unearthed a council report published in July 2005 which details the sites likely to be sold this year.

Councillor Mike Freer, cabinet member for resources, said that The Bull, in High Street, Barnet, was now off the market as the council was in negotiations with Susi Earnshaw Theatre School but a council spokeswoman said that the list was still accurate, although an updated report on the council's assets would be presented to the cabinet this month.

"Labour wants to control everything and run everything badly," said Mr Freer.

"Conservatives believe that Barnet has to evolve and modernise. No disposals mean no capital investment in care homes, our schools, our infrastructure.

"How does Labour propose to fund the capital programme? This is creating a budget on the back of a fag packet. Not the work of a serious and competent opposition."

Councillor Danish Chopra, Labour spokesman for resources, said that he understood the need to use the borough's resources well, but that community facilities should be put before profits. "These are the property of the community it is selling off the family silver, and it is unsustainable," he said.