Decision details

RESOLVED:

That District Executive:-

a.

Noted progress made to date in acquiring new commercial investments

b.

Noted the return being achieved across the portfolio which is slightly above the Council’s target of 7%.

c.

Noted progress being made in securing income from our existing assets and the contribution to the revenue budget in excess of the original £2.25m target.

d.

Noted progress being made in disposals and transfers of existing assets, resulting in a reduction of future liabilities associated with these assets.

Reason:

To note the progress with implementing the Commercial Strategy agreed by Council including the commercial investments and management of the existing asset portfolio since the last half yearly update in June 2019.