Issue - meetings

This report identifies the properties making up the Council’s Commercial Property Portfolio, examines the background to current ownership, establishes  criteria for holding these premises in the future and audits performance for the period 2000 to 2005. 

RESOLVED: (i)         That the performance of the Council’s operational and non-operational portfolios be noted.

                        (ii)        That the recommendations summarised in paragraph 10 of Annex A to the report be approved.

(iii) That recommendation (d) in paragraph 10 be considered further by the Corporate Asset Management Group and a report brought back to the Executive Member for Corporate Services outlining the investment strategy.

REASONS:    To provide Members’ input to the Commercial Property Review, set targets for future performance and identify actions on individual properties.

[See also Exempt Minute 107]

Members considered a report which identified the properties making up the Council’s Commercial Property Portfolio, examined the background to current ownership, established criteria for holding these premises in the future and audited performance for the period 2000 to 2005.  A report on this matter had previously been considered by the Executive Member for Corporate Services and Advisory Panel, on 30 October 2007.  The Executive Member’s decisions were set out in paragraph 3 of the report.

The review formed a Service Asset Management Plan, linking to the Council’s approved Corporate Asset Management Plan.  It related to commercial properties in two categories – Operational (properties ancillary to service use) and Non Operational (properties not directly part of a service).  The main focus of the review was on the latter.

Annex A to the report (an exempt document) included a list of those properties that might be subject to review, together with fact sheets on each group of non-operational properties, setting out the benchmarks, voids and write offs that had occurred and recommending future policy.  The report outlined the recommended objectives for holding property in the future and the recommended performance indicators for future property management.  Recommendations for suggested new measures and changes for the future, relating to rent reviews, condition surveys, potentially saleable properties, new investment properties and properties to be retained for the longer term, were set out in paragraph 10 of Annex A.

Having noted the comments of the Shadow Executive, it was

RESOLVED: (i)         That the performance of the Council’s operational and non-operational portfolios be noted.

                        (ii)        That the recommendations summarised in paragraph 10 of Annex A to the report be approved.

(iii) That recommendation (d) in paragraph 10 be considered further by the Corporate Asset Management Group and a report brought back to the Executive Member for Corporate Services outlining the investment strategy.

REASONS:    To provide Members’ input to the Commercial Property Review, set targets for future performance and identify actions on individual properties.