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Strategic Investment Board - Monday, 20 April 2026 11.30 am
April 20, 2026 at 11:30 am Strategic Investment Board View on council website Watch video of meeting Read transcript (Professional subscription required)Summary
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The Strategic Investment Board met on Monday 20 April 2026 and approved the disposal of an investment asset. The meeting also involved discussions regarding the financial implications of this sale for both Surrey Property Group Limited (SPG) and Surrey County Council (SCC).
Disposal of Surrey Property Group Ltd Investment Asset
The Board approved the disposal of an investment asset, Unit 1, Park Spring Road, Barnsley1. This decision was made following a review of the asset's performance and market conditions. The sale is part of the ongoing strategy to divest underperforming assets and maximise portfolio performance, aligning with SPG's company strategy for 2023-2028.
The sale is expected to provide SPG with a capital receipt after repaying an existing loan, thereby improving its short-term cash balances. It also mitigates future financial losses from anticipated falling asset values, optimising the return on the asset. The recommendation to sell was considered the most opportune time, following a rent review settlement in 2024 which resulted in an uplift. An unconditional offer has been received at a competitive price, with the purchaser funding the acquisition entirely from existing cash resources.
While the sale is financially adverse in the short term for SPG, leading to a reduction in net assets and a deterioration in the profit and loss account due to the loss of rental income and write-off of unamortised rents, it reduces exposure to valuation risk in the medium to longer term. The financial modelling indicates a negative impact on SCC's net income of approximately £0.3 million in 2026/27, which is anticipated to be mitigated by movements elsewhere in the investment portfolio.
The report highlighted that the property was acquired in December 2018 and has generated significant rental income since then, with an overall net return of 7.7% to date. The proposed purchaser has completed all due diligence, including building and environmental surveys, making the offer wholly unconditional. The sale is expected to be concluded by the end of April 2026.
The Board also delegated authority to the Deputy Chief Executive and Executive Director of Resources, in consultation with the Cabinet Member for Property, Waste and Infrastructure, Natalie Bramhall, to finalise the disposal and enter into all associated legal agreements. This decision is subject to call-in by the Resources and Performance Select Committee.
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Unit 1, Park Spring Road, Barnsley is an investment property owned by Surrey Property Group Limited, a subsidiary of Surrey County Council. ↩
Delegated decisions linked to this meeting
Decision summaries below are AI-generated from the council’s published record. Check the council source or the full decision page before relying on them.
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Minutes of the Previous Meeting
Recommendations ApprovedThe Strategic Investment Board of Surrey Council approved business plans for Halsey Garton Residential and Connect2Surrey on 9 March 2026. The Board also noted a presentation from TRICS and provided feedback for consideration by the TRICS Board. The Board acknowledged key risks and mitigation strategies, endorsed the forward plan for SIB activities, and provided strategic direction on the pace of disposal for the HGR residential property portfolio.
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Apologies for Absence
Recommendations Approved (subject to call-in)The Strategic Investment Board of Surrey Council approved recommendations on 20/04/2026.
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DISPOSAL OF SURREY PROPERTY GROUP LTD INVESTMENT ASSET - UNIT 1, PARK SPRING ROAD, BARNSLEY
Recommendations ApprovedThe Surrey Strategic Investment Board approved the disposal of an investment asset. Authority was delegated to the Deputy Chief Executive & Executive Director of Resources (S151), in consultation with the Cabinet Member for Property, Waste and Infrastructure, to finalise the disposal and enter into associated legal agreements.
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DISPOSAL OF SURREY PROPERTY GROUP LTD INVESTMENT ASSET - UNIT 1, PARK SPRING ROAD, BARNSLEY
Recommendations ApprovedThe Strategic Investment Board of Surrey Council on Monday 20 April 2026 approved recommendations regarding the disposal of Unit 1, Park Spring Road, Barnsley. This decision was made as per the part 1 report.
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