Issue - meetings

Report DRR15/056

The report provided an overview of the Council’s investment portfolio and proposed a process for reviewing this portfolio. The following categories of property would be reviewed in priority order over the coming year – estate shops (freehold and leasehold), shopping centres, green belt, miscellaneous commercial properties, residential properties and sports and community uses. The first report, on estate shops, was scheduled to be presented to Members in September. All properties would be challenged rigorously. 

The Executive was also asked to reaffirm a set of management policies set out in the report as (a) to (k). The Executive and Resources PDS Committee had scrutinised the report on 3^rd June 2015 and proposed that policy (k), which was not to dispose of small areas of land for garden extensions unless it was in the Council’s interest, should be deleted. Members agreed that this should be deleted and considered that unused land should be disposed of wherever possible. The PDS Committee had also suggested that policy (g) should be reviewed to ensure compliance with competition legislation. 

RESOLVED that

(1) The proposed programme for the review of the Investment Property Portfolio be approved as set out in section 4 of the report.

(2)  The management policies outlined in section 5 of the report be endorsed, with the exception that policy (k) be deleted and policy (g) be reviewed.