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?: Yes

Purpose:

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

Decision:

RESOLVED that progress to date in pursuing possible investment opportunities and an update on newly identified opportunities for consideration is noted.

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 from 2017/18 to 2019/20 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

Declarations: None

Subject to Urgent Proceedings: No

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, Director: Finance Email: stuart.mckellar@bracknell-forest.gov.uk Tel: 01344 352205.

Report author: Stuart McKellar

Publication date: 13/03/2018

Date of decision: 13/03/2018

Decided at meeting: 13/03/2018 - Executive Committee: Commercial Property

Effective from: 21/03/2018

Accompanying Documents: