Issue - meetings
Commercial Assets Update Report
Meeting: 06/12/2018 - District Executive (Item 84)
84 Commercial Assets Update Report 
PDF 114 KB
Additional documents:
- 8 Confidential Appendix 1 , View reasons restricted (84/2)
Decision:
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RESOLVED: |
That District Executive agreed to:- |
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a. |
note progress made to date in acquiring new commercial investments;
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b. |
note progress being made in securing income from our existing assets;
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c. |
note progress being made in disposals and transfers of existing assets, resulting in a reduction of future liabilities associated with these assets.
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Reason: |
To update members on commercial investments and management of the existing asset portfolio since the last half yearly update in June 2018. |
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Minutes:
The Portfolio Holder for Property and Climate Change and Income Generation introduced the report and advised that staff were looking at investments which met the Council’s requirements but sometimes were out-bid by other investors.
The Commercial Property, Land and Development Manager advised that the report focussed on property investment within the financial strategy to acquire commercial investments to provide an income for the Council.
Councillor Nick Weeks noted that business units within his Ward were not being built because of lack of investment although all the units had prospective tenants. The Director for Commercial Services and Income Generation agreed to look at this.
Members agreed to continue the remainder of the debate in confidential session and at the conclusion of the debate, were content to note the contents of the report.
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RESOLVED: |
That District Executive agreed to:- |
|
|
|
a. |
note progress made to date in acquiring new commercial investments;
|
|
|
b. |
note progress being made in securing income from our existing assets;
|
|
|
c. |
note progress being made in disposals and transfers of existing assets, resulting in a reduction of future liabilities associated with these assets.
|
|
Reason: |
To update members on commercial investments and management of the existing asset portfolio since the last half yearly update in June 2018. |
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