Decision details

Commercial Property Investment Opportunity

Decision Maker: Executive Committee: Commercial Property

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To consider properties (if any) in which the Council may seek to invest, in accordance with the Commercial Property Investment Strategy.

Decision:

That progress to date in pursuing possible investment opportunities discussed at the Executive Committee meeting on 18 July 2017 be noted.

 

That the investment opportunities identified in the exempt investment tracker attached to the agenda papers as properties 21, 22 and 23 be pursued subject to due diligence being undertaken.

 

Reasons for the decision:

To enable the Executive Committee to monitor progress against the Council’s aim of securing an additional £1m in revenue each year through investing in commercial properties.

Alternative options considered:

None, all actions are necessary to implement the Strategy.

Interests and Nature of Interests Declared:

None

Reason Key: Expenditure >£400,000 & Affects more than 1 ward.;

Wards Affected: (All Wards);

Financial Impact: Additional income

Making Representations: In writing to the Borough Treasurer

Other reasons / organisations consulted

Via draft report

Consultees

Corporate Management Team and Executive Members

Contact: Stuart McKellar, Executive Director: Resources Email: stuart.mckellar@bracknell-forest.gov.uk Tel: 01344 352205.

Report author: Stuart McKellar

Publication date: 26/09/2017

Date of decision: 26/09/2017

Decided at meeting: 26/09/2017 - Executive Committee: Commercial Property

Accompanying Documents: