Decision details

To consider a report of the Cabinet Member for Resources, Leisure and Culture seeking approval for the classification of properties held in the Investment Portfolio to enable them to be reviewed for possible disposal.

1. To approve the re-categorisation of Investment Property into ‘Strategic Investment Property’ and ‘Managed Investment Property’ as set out in Confidential Appendix 2 to this report.
2. To increase the delegated authority to the Head of Property and Procurement to approve any potential disposals from the current limit of £50,000 to £300,000.
3. To increase the delegated authority to the Head of Property and Procurement, following consultation with the Cabinet Member for Resources, Leisure and Culture, to approve any potential disposals from the current limits of £50,000 - £500,000, to new limits of £300,000 - £1,000,000.

1. To re-align the Councils’ Strategic Investment property portfolio to current needs, and dispose of properties that are no longer required for strategic purposes where it is financially advantageous to do so.
2. To realise significant capital receipts in the next 5 years.
3. To save management costs.

Do nothing.  This would not achieve the benefits given above.