Decision Maker: Cabinet

Outcome: Recommmend Forward to Council

Is Key Decision?: No

Is Callable In?: No

Date of Decision: January 12, 2026

Purpose: Members to be updated on Breckland Bridge

Content: RESOLVED to RECOMMEND to FULL COUNCIL to:   1)     Approve new vision and purpose of Breckland Bridge Ltd and approve the business plan 2026 – 2031.   2)     Approve writing off the working capital loan to Breckland Bridge Ltd and any unpaid Colkirk scheme loans to Breckland Bridge Ltd (or its subsidiaries).   3)     Approve the provision of funding to contribute towards the overhead costs of running Breckland Bridge Ltd and its subsidiaries.

Reasons for the decision: It is prudent for the Council to review its position and involvement in the Breckland Bridge joint venture given the current proposals for Local Government Reorganisation in Norfolk combined with current prevailing market conditions. The challenges with the Colkirk scheme demonstrate the risks that can be experienced in undertaking construction and development, alongside the potential benefits of such activities. Nonetheless, the completion of this scheme, including its associated affordable housing, demonstrate our commitment to our communities and the need for housing now within the District. These risks are constantly monitored by the Breckland Bridge board of directors. To mitigate any continued risk with undertake development directly it is prudent to review the approach and vision of the joint venture.   The new business plan is supported by both shareholders and provides a clear direction on the business of the company for the next period. The business plan aims to maximise value on existing sites where possible in disposal, delivering the best possible returns whilst minimising risks to the council as the shareholder whilst at the same time shielding any future unitary authority against financial hardship as much as possible.

Alternative options considered: Option 1: Cabinet recommends to Council to: 1)     Approve the new vision and purpose of Breckland Bridge Ltd and approve the business plan 2026-2031. 2)     Approve writing off the working capital loan to Breckland Bridge Ltd and any unpaid Colkirk scheme loans to Breckland Bridge Ltd (or its subsidiaries). 3)     Approve the provision of funding to contribute towards the overhead costs of running Breckland Bridge Ltd and its subsidiaries.   Option 2: Cabinet does not recommend to Council to: 1)     Approve the new vision and purpose of Breckland Bridge Ltd or approve the business plan 2026-2031. 2)     Approve writing off the working capital loan to Breckland Bridge Ltd and any unpaid Colkirk scheme loans to Breckland Bridge Ltd (or its subsidiaries). 3)     Approve the provision of funding to contribute towards the overhead costs of running Breckland Bridge Ltd and its subsidiaries.