Decision details

Corporate 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:

That the Executive Committee noted progress to date in pursuing

possible investment opportunities, received an update on newly identified

opportunities for consideration and agreed to pursue the property presented to them.

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.

Publication date: 13/11/2018

Date of decision: 13/11/2018

Decided at meeting: 13/11/2018 - Executive Committee: Commercial Property

Effective from: 21/11/2018

Accompanying Documents: