Purpose

Following a review by CIPFA property
specialists, the report will present recommendations for the future
delivery model of the Council's property functions.

Content

AGREED: That cabinet
noted the report and:
i)                
Approved the abolition of the current company structure and
replaces it with an Asset Holding Company (AHC) to manage Council
property holdings.
ii)              
Approved a cost-neutral financial model, ensuring sustainable
property management.
iii)            
Delegated authority to the Executive Director of Place Services,
in consultation with the Cabinet Member for Planning, Governance,
and Asset Management, to implement the changes.
iv)            
Noted the previous approval obtained in July 2024 to bring all
operational responsibilities back in-house into the Council’s
Place Directorate.