Decision Maker: Cabinet, Cabinet Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: November 18, 2024

Purpose: To receive the quarterly update on the progress of the Asset Disposal Programme.

Content: That it be noted that at its meeting on 14th November 2024 the Cabinet Committee:   a) Agreed the revised high-level principles as set out within this report to establish a Asset Management Strategy.   b) Agreed the introduction of the Corporate Landlord Model (Appendix A)   c) Noted the revision in the disposals forecast following an internal review to cover the financial years 2025-2027 of General Fund assets, that is set to generate a net net return of circa £27.4m, a full list of sites to be published at Cabinet in Q4 of Financial Year 24/25.   d) Agreed that Observatory House, The Curve and Britwell Centre are to be retained for the foreseeable future, with consideration being given to making these key public-facing access points.   That the following recommendations from the Cabinet Committee be approved:   e) Confirmed the former civic offices at St Martins Place as surplus to requirements and will be marketed for sale.   f) Delegated authority to the Executive Director of Regeneration, Housing & Environment, in consultation with the Lead Member for Finance, Council Assets and Transformation and the Executive Director of Finance and Commercial, to negotiate the terms of and enter into the contract and any associated documentation in connection with the disposal of the former civic offices at St Martins Place, subject to this demonstrating best consideration reasonably obtainable.   g) Authorised procurement of a contractor to conduct an external assessment of the asset disposal programme and its feasibility and of a contractor(s) to commission feasibility studies for retained buildings for the purpose for making them suitable for public facing services.