Decision Maker: Executive Committee: Commercial Property
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To receive an update on the Commercial Property Investment Strategy.
That the information provided in Annex A of the Chief Executive’s report is noted and agreed that no further action is required at this point.
To enable the Executive Committee to monitor progress against the Council’s agreed CPIS, aimed at securing an additional net £3m per year in revenue income to support front line services.
i. The option of undertaking further purchases has previously been considered by the Executive Committee and rejected.
ii. One or more properties could be sold, realising a gain on the capital sum invested. However with long-term leases remaining in place for all properties there is no good reason to do so at this time.
Reason Key: Expenditure >£400,000 & Affects more than 1 ward.;
Wards Affected: (All Wards);
Financial Impact: To be included within report
Subject to Urgent Proceedings: No
Making Representations: In writing the Executive Director:Delivery
Other reasons / organisations consulted
Contact: Steven Caplan, Assistant Director: Property Email: firstname.lastname@example.org Tel: 01344 352474.
Report author: Steven Caplan, Stuart McKellar
Publication date: 18/06/2019
Date of decision: 18/06/2019
Decided at meeting: 18/06/2019 - Executive Committee: Commercial Property
Effective from: 26/06/2019