Decision details
Commercial Property Investment Portfolio
PDF 114 KBDecision Maker: Executive Committee: Commercial Property
Decision status: Recommendations approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To provide an update to the Executive Committee on properties purchased through
the Council’s commercial property investment strategy [CPIS].
Decision:
RESOLVED that the Executive Committee notes the information and agrees that no further action is required at this point.
Reasons for the decision:
To enable the Executive Committee to monitor progress against the Council’s agreed
CPIS target, aimed at securing an additional net £3m per year ( as shown in table 1
& 2 below) in revenue income to support front line services.
Alternative options considered:
The option of undertaking further purchases has previously been considered by the
Executive Committee and rejected.
Interests and Nature of Interests Declared:
No
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.
Report author: Stuart McKellar
Publication date: 27/04/2021
Date of decision: 27/04/2021
Decided at meeting: 27/04/2021 - Executive Committee: Commercial Property
Effective from: 28/04/2021