Decision - Asset Disposals for Re-investment in the Urban Portfolio
navigation and tools
Find it
You are here - Home : Council and Democracy : Councillors and Committees : Decision details
Decision details
Asset Disposals for Re-investment in the Urban Portfolio
Decision Maker: Policy, Resources & Growth Committee
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
The report recommends the disposal of 2
commercial properties from the urban investment portfolio and for
the net capital receipts achieved to be reinvested to provide
continued income streams for the urban investment
portfolio.
Decision:
RESOLVED:
(i) That the committee authorised the disposal of the freehold of 23 Meeting House Lane and that delegated powers be given to the Executive Director of Economy, Environment and Culture, Assistant Director Property & Design and Executive Lead, Strategy, Governance and Law to agree terms.
(ii) That the committee authorised the retention of the net capital receipt to add to an investment fund which includes the net capital receipts of previously completed property disposals, as approved by this committee.
(iii) That the committee noted that the investment fund would be used to acquire a commercial investment property or properties, in accordance with the council’s AMP, details of which will be presented to this committee with a recommendation when an acquisition opportunity has been identified.
Report author: Jessica Hamilton
Publication date: 12/07/2018
Date of decision: 12/07/2018
Decided at meeting: 12/07/2018 - Policy, Resources & Growth Committee
Accompanying Documents:
PDF 235 KB