Decision details
Commercial Property Investment Strategy - Update
PDF 110 KBDecision Maker: Executive Committee: Commercial Property
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To receive an update on the Commercial Property Investment Strategy.
Decisions:
RESOLVED 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.
Reasons for the decision:
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.
Alternative options considered:
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.
Interests and Nature of Interests Declared:
None
Reason Key: Expenditure >£400,000 & Affects more than 1 ward.;
Wards Affected: (All Wards);
Financial Impact: To be included within report
Declarations: None
Subject to Urgent Proceedings: No
Making Representations: In writing the Executive Director:Delivery
Other reasons / organisations consulted
None
Consultees
No
Contact: Steven Caplan, Assistant Director: Property Email: steven.caplan@bracknell-forest.gov.uk 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