7 Commercial Property Investment Portfolio
To update the Executive Committee on
properties purchased through the Council's commercial property
investment strategy (CPIS).
Additional documents:
Minutes:
RESOLVED that the Executive Committee – Commercial Property:
i. Notes the update on the properties previously acquired through the CPIS and agrees that no further action is required at this point.
ii. Authorises the Assistant Director: Property Services to undertake detailed due diligence regarding an opportunity that has arisen to potentially acquire a property.
iii. Subject to the findings of the due diligence process, authorise the Assistant Director: Property Services, in consultation with the Chief Executive, the Executive Director: Resources and the Borough Solicitor to pursue negotiations to purchase the property for a consideration of up to the maximum price agreed by the Committee.