Decision Maker: Commercial Assets Sub-Committee

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: February 24, 2025

Purpose:

Content: The Sub-Committee resolved to 1)    Approve the direct award of a property management contract for the investment portfolio to Cushman and Wakefield for the period 1 April 2025 to 30 September 2025 in accordance with the terms set out in the report. 2)    Authorise the Group Head of Corporate Governance to enter into the short-term property management contract with Cushman and Wakefield for the period 1 April 2025 to 30 September 2025. 3)    Approve the procurement of a new property management contract for the investment portfolio for a period of 3 years from 1 October 2025, subject to a further report being taken to Corporate Policy and Resources Committee and then Council seeking approval to enter into a contract with the preferred bidder.