Decision details
Commercial Property Investment Opportunity
PDF 108 KBDecision Maker: Executive Committee: Commercial Property
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To consider properties 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 11 April 2017 be noted.
The investment opportunities identified in the exempt investment tracker as properties 14 and 17 be pursued subject to due diligence being undertaken on both properties.
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 Commercial Property Investment 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, Executive Director: Resources Email: stuart.mckellar@bracknell-forest.gov.uk Tel: 01344 352205.
Publication date: 28/04/2017
Date of decision: 09/05/2017
Effective from: 17/05/2017