Industrial Portfolio Review

November 14, 2024 Cabinet (Cabinet collective) Key decision Approved View on council website

This summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.

Summary

...to approve recommendations for the sale of the industrial portfolio due to its age, condition, and the belief that rental values have peaked, making it an opportune time to sell before further investment is needed.

Full council record

Purpose

The portfolio
is considered high risk as it is coming to the end of its
design/construction life.
The rental values have been maximised given the condition of
the portfolio and now is considered the optimum time to sell the
portfolio as the rents will start to decrease unless significant
investment is made to improve the condition of the
assets.

Decision

RESOLVED:

 

To approve the recommendations as
detailed in the not for publication report. 

 

Details

OutcomeRecommendations Approved
Decision date14 Nov 2024
Subject to call-inYes