Issue - meetings

Commercial Property Investment Portfolio

Meeting: 29/06/2023 - Executive Committee: Commercial Property (Item 7)

7 Commercial Property Investment Portfolio

To update the Executive Committee on properties purchased through the Council's commercial property investment strategy (CPIS).

Additional documents:


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.