The Property and Investments Executive Sub-Committee was scheduled to meet on Monday, 6 October 2025, to discuss the disposal of investment properties. Councillor Bill Revans, Leader of the Council and Lead Member for Governance & Communications, was scheduled to chair the meeting. The agenda included a key decision on the disposal of investment property and a non-key decision report on an investment asset.

Disposal of Investment Property

The Sub-Committee was scheduled to discuss a key decision regarding the disposal of investment property. Somerset Council is aiming to reduce costs and generate capital by rationalising its property and land portfolio. The report pack stated that Somerset Council has been under financial pressure since a financial emergency was declared in November 2023, and government support was required for 2024/25.

The report pack stated that the council sought a capitalisation directive¹ from the government in 2024/25, which was approved and fully funded from capital receipts received to date. A further application was made for exceptional financial support in 2025/26, which has received 'minded to approve' support. It is anticipated that the receipts from the sale of further assets will be used to fund this, as well as other transformational activity being undertaken by the Council.

The Sub-Committee was asked to consider passing a resolution to exclude the press and public from the meeting during consideration of those parts of the agenda item which relate to exempt information. The reason given was that the item is likely to contain information relating to the financial or business affairs of a particular person (including the authority holding that information).

The Sub-Committee was asked to approve the recommendations set out in the confidential appendices A and B, and to delegate authority to the Executive Director - Resources, Strategy & Transformation, in consultation with the Lead Member Finance, Procurement and Performance, Councillor Liz Leyshon, to make all necessary arrangements and agreements to conclude the sales by 31 March 2026.

The report pack stated that the intention of the council is to dispose of its commercial investment properties, with a key objective being to achieve the best sale prices reasonably obtainable.

Non-Key Decision Report on an Investment Asset

The Sub-Committee was also scheduled to discuss a non-key decision report on an investment asset. According to the report pack, this report provides a briefing on specific commercial investment assets in relation to asset performance and marketing situation. Further details were contained in the confidential appendix A to the report.

The Sub-Committee was asked to agree the case for applying the exempt information provision as set out in the Local Government Act 1972, Schedule 12A, and therefore to treat the attached confidential Appendix A in confidence, as it contains commercially sensitive information, and as the case for the public interest in maintaining the exemption outweighs the public interest in disclosing that information. The reason given was that the information relates to the financial or business affairs of any particular person (including the authority holding that information).

The Sub-Committee was asked to approve the recommendations set out in the confidential Appendix A and to continue to delegate authority to the Executive Director for Resources, Strategy and Transformation, in consultation with Councillor Liz Leyshon and the S151 Officer², to make all necessary arrangements and agreements to conclude sales by 31 March 2026.

The report pack stated that the intention of the council is to dispose of its commercial investment assets, with a key objective from the disposal programme to achieve the best sale prices reasonably obtainable.

Other Matters

The agenda also included:

• Apologies for absence.
• Declarations of interest.
• Public question time.
• The Property and Investment Executive Sub-Committee Forward Plan.