Decision details

Review and Strategy for the Commercial Property Portfolio – Future Investment Strategy

Decision Maker: Executive Member For Corporate Services and Advisory Panel, Executive Member for Corporate Services

Decision status: Decision Made

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

The main Review and Strategy was approved by Corporate Services EMAP on 30th October 2007 and Executive on 20th November. These reports contained a recommendation that some properties could be sold, and the proceeds re-invested in other property that more closely followed the council's Corporate Strategy and also gave a better balance to the Portfolio - eg less retail, more business space.

The Executive delegated the detail of the Strategy to Corporate Services EMAP and this report sets out the necessary further detail.


Decision:

Advice of the Advisory Panel

 

That the Executive Member be advised:

 

(i)                 That the report be noted and Option A in paragraph 8 be approved;

(ii)               That Option B, the wider property review looking at alternative investment strategies be deferred until the July EMAP meeting for clarification on how the review should proceed.

 

Decision of the Executive Member

 

RESOLVED:That the advice of the Advisory Panel be accepted and endorsed.

 

REASON:So that the council’s Commercial Property Portfolio may be modernised, made more efficient and may be aligned more closely to Corporate Objectives and service property needs for the future in response to the budget approved by Council.

Publication date: 11/06/2008

Date of decision: 10/06/2008

Decided at meeting: 10/06/2008 - Executive Member For Corporate Services and Advisory Panel

Effective from: 13/06/2008

Accompanying Documents:

 

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