The Shareholder Committee was scheduled to meet to discuss the Evolve Norse business plan and company performance. The committee was also expected to review the minutes from the previous meeting. Some discussion of exempt information was also scheduled to take place, and the press and public may have been excluded from the meeting during this discussion.

Evolve Norse Business Plan

The committee was scheduled to discuss the Evolve Norse business plan for 2025/26 and the company's performance for 2024/25. Evolve Norse is a joint venture between Waltham Forest Council and the Norse Group, providing property services and built environment expertise. The joint venture (JV) was established in April 2022, replacing NPS London Ltd (NPSL). Councillor Ahsan Khan, Deputy Leader (Housing and Regeneration) was the cabinet member responsible for this topic.

The committee was asked to endorse the Evolve Norse business plan for 2025/26, which forecasts a net operating profit of £86,000. The plan outlines three core objectives:

• Supporting the delivery of the council's Capital Investment Strategy, with a focus on school maintenance and capital works programmes. The JV will also support strategic corporate assets and heritage estates such as Hatherley Mews and Chestnuts House projects.
• Maintaining high-quality service delivery and strengthening project and contract governance, including refining the operating model and embedding governance and assurance systems.
• Delivering a commercially viable JV while ensuring value-for-money services, including reducing reliance on external consultants and diversifying income streams.

The report pack noted that in 2024/25, Evolve Norse delivered a gross operating profit of £129,000, which was lower than the business plan target. The council was forecast to receive a volume discount (share) of gross operating profit estimated at £66,000 for the year. The report pack stated that the Norse Group would absorb any losses made by the company, meaning that the council would have no financial exposure if the company did not make an operating profit.

The report pack stated that Evolve's primary focus is delivering school maintenance, compliance, capital works and school expansion programmes. Achievements in 2024 included:

• Leading the rollout of the £1.9 million schools' capital repairs programme.
• Leading construction works on a new teaching block at Willowfield School, increasing capacity at the school from 6 to 7 forms of entry.
• Completing construction and fit-out of a new High Education Needs and Family Resilience centre in Leyton.
• Delivering a rolling programme of asbestos, water and fire risk assessments across all maintained schools.

Evolve Norse is also providing support for government-funded projects in Walthamstow, Chingford and Leyton, pre-construction work to progress the redevelopment of Low Hall Depot, and technical support for the Crematorium in Chingford.

The report pack also included an Equalities Impact Assessment (EqIA) screening template, which determined that the business plan would have no negative impact on the council's equality duty¹.

Exclusion of press and public

The committee was expected to consider excluding the press and public during a portion of the meeting. This was because Appendix 1 of the Evolve Norse Business Plan contained exempt information relating to the financial or business affairs of a particular person. This action would have been taken in accordance with Section 100 (A) of the Local Government Act 1972.

Minutes of the previous meeting

The committee was scheduled to approve the minutes of the meeting held on 6 May 2025.