Issue - meetings

To consider an overview of the Council’s current investments.

RESOLVED that the overview of the Council’s investments report was noted.

Councillor T Archer presented the Overview of the Council’s Investment report which set out an overview of information to date regarding the Council’s property investments and assets, with particular reference to the Companies Performance Update considered by the Executive in March 2019, and the Council’s Property Asset Register dataset.

The Sub-Committee were aware that this report was a starting point for future work, and would be expanded and supplemented as the Council develops its commercial investment strategy and approach.

The asset list would continue to be developed to enable the Sub-Committee to manage the Council’s assets and for the Sub-Committee to make decisions on asset retention, disposal or change of use.  The Sub-Committee would determine the strategic reasons for holding the assets. 

It was supported that the asset list be defined by geographical locations by presenting the information with colour coding and denoting whether each asset was a commercial or community beneficial asset.

The Sub-Committee would determine the strategic reasons for holding the assets.

RESOLVED that the overview of the Council’s investments report was noted.

Reason for decisions:  To consider the information regarding the Council’s current investments, to support future work on the Council’s commercial approach and investment strategy.

Alternative options: To note the overview of the Council’s investments, as set out in the report, and request additional information to assist consideration of this overview. This option was not recommended as it might delay preparation of updated information which would supersede the additional information requested.