Decision Maker: Executive Committee: Commercial Property
Decision status: Recommendations approved
Is Key decision?: Yes
Is subject to call in?: Yes
To provide an update to the Executive Committee on properties purchased through
the Council’s commercial property investment strategy [CPIS].
RESOLVED that the Executive Committee notes the information and agrees that no further action is required at this point.
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.
The option of undertaking further purchases has previously been considered by the
Executive Committee and rejected.
Reason Key: Expenditure >£400,000 & Affects more than 1 ward.;
Wards Affected: (All Wards);
Financial Impact: Additional income
Subject to Urgent Proceedings: No
Making Representations: In writing to the Borough Treasurer
Other reasons / organisations consulted
Via draft report
Corporate Management Team and Executive
Contact: Stuart McKellar, Executive Director: Resources Email: firstname.lastname@example.org 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