Purpose

The Commercial Investment Property Portfolio
provides income to support the council's financial strategy as well
as supporting other council policy objectives. The portfolio
requires investment to reduce risk and support future income
generation. A strategy is proposed to support this.

Content

1)            
That Committee agrees to the disposal of
properties listed in Appendix 1 of Part 2 of this report and
delegates authority to the Executive Director Economy, Environment
and Culture and the Executive Director Governance, People &
Resources to approve terms and take any necessary steps to
facilitate this recommendation.

 

2)            
That Committee agrees to the provision of an
annual commercial asset investment fund as described in paragraph
3.18 of this report to be included as part of the Capital Strategy
for 2024/25 onwards.

 

3)            
That Committees agreed to the allocation of the
net capital receipt from the disposal of 8-9 Kings Road for
investment in the Commercial Investment Property Portfolio to
address the council’s repair liability as described in
paragraph 3.22.