Issue - meetings
Commerical Property Investment
Meeting: 20/11/2019 - Council (Item 59)
59 Property Investment Fund 
PDF 487 KB
Report of the Cabinet Member for Resources outlining a policy for investment in commercial property.
Additional documents:
Minutes:
The report of the Cabinet Member for Resources outlining a policy for investment in commercial property.
RESOLVED to:
(i) Re-affirm the commitment to a property investment fund as a part of the strategy for addressing future budget shortfall.
(ii) Agree the approach as outlined in this report and the investment criteria attached to this report.
(iii) Agree to delegate to the Service Director – Strategic Finance and Commercialisation, in consultation with the Cabinet Member for Resources, the ability to amend the property investment strategy prior to making the first additional purchase into the Fund.
(iv) Note the addition and spend of £200M. It is proposed to include this sum in the 2019/20 capital programme. Whilst it will be included in full, in practice it is likely there will be a need to spread such an investment beyond the current year. This will be funded by Council resources.
Meeting: 15/10/2019 - Cabinet (Item 35)
35 Commercial Property Investment PDF 488 KB
Report of the Cabinet Member for Resources outlining a policy for investment in commercial property.
Additional documents:
- App 1 FINAL - PIF, item 35
PDF 204 KB
- Investment Strategy - Member room document, item 35
PDF 279 KB
Minutes:
DECISION MADE: (CAB 19/20 25463)
On consideration of the report of the Cabinet Member for Resources, Cabinet agreed the following:
(i) Re-affirms the commitment to a property investment fund as a part of the strategy for addressing future budget shortfall.
(ii) Agrees the approach as outlined in this report and the investment criteria attached to this report.
(iii) Agrees to delegate to the Service Director – Strategic Finance and Commercialisation, in consultation with the Cabinet Member for Resources, the ability to amend the property investment strategy prior to making the first additional purchase into the Fund.
(iv) Notes the addition and spend of £200M. It is proposed to include this sum in the 2019/20 capital programme. Whilst it will be included in full, in practice it is likely there will be a need to spread such an investment beyond the current year. This will be funded by Council resources.