Issue - meetings

Companies Performance update - Spring 2022

Meeting: 16/06/2022 - Overview and Scrutiny Committee (Item 8)

8 Companies Performance Update - Spring 2022

To review and consider the Companies Performance Update – Spring 2022 and make any observations for the Commercial Ventures Executive Sub-Committee (CVESC).

This report will be sent as an addendum.

Supporting documents:

Minutes:

The Committee received the Spring 2022 Companies Performance Update report from the Executive Member for Investment and Companies, Councillor Archer. This report updated the Committee on the performance of the companies currently owned or part-owned by the Council which currently consist of: Greensand Holdings Limited, Horley Business Park Development LLP, Pathway for Care Limited and Camelia Close (Tadworth) Residents Management Company Limited.

The Council is currently reviewing the future strategy for Greensand Holdings Limited with its Directors following recent changes to local government guidance on commercial investments. Horley Business Park Development LLP is not currently considered to be performing in line with expectations.

The Council continues to attempt to obtain management information from Pathway for Care Limited in order to review its performance. There are no issues anticipated with Camelia Close (Tadworth) Residents Management Company Limited and, as soon as all units are sold, the Council’s involvement with the company will cease and the management of the communal areas will transfer to the resident management company.

This item was scrutinised more fully under part 2 due to the confidential nature of the parts of the discussion held.

RESOLVED – to note the Spring 2022 Companies Performance Update as set out in the report to the Committee and the observations of the Committee for consideration by the Commercial Ventures Executive Sub-Committee.