Decision details

Cabinet considered the interim head of development and regeneration’s report on the strategic property review.  This provided an overview of all council assets and the alignment of council business, capital and property asset strategies to ensure that property assets were optimised to meet the council’s corporate plan objectives. 

Underpinning the delivery of the review outcomes was a land and property asset disposal policy to provide a documented process to support dealing effectively with the council’s land and property assets.  The Cabinet member believed that the policy would allow the council to:

·       take transparent decisions on its land and property assets

·       implement the corporate plan’s aims

·       maximise capital and/or revenue from existing assets

·       reduce costs associated with managing the portfolio

·       understand potential financial risks/liabilities in holding council-owned assets in the short, medium and long term

·       improve efficiency in running the estate, thereby contributing to financially effective delivery of services

The Cabinet member also believed that there was a need to ensure that all relevant services were included in property-making decisions.  Setting up an asset management group would provide internal governance and enable inclusivity for cross-council service delivery.  Formal decisions would be taken in accordance with the council’s constitution, following advice from the asset management group. 

Cabinet supported the proposal as this would allow the council to better manage its assets, improve the use of those assets, improve the energy efficiency of the buildings, and support the corporate plan. 

RESOLVED: to

(a)       note the update on the strategic property review;

(b)       approve the Land and Property Asset Disposal Policy;

(c)        approve the council approach to transfer of assets from developers; and

(d)       note that in line with proposed processes set out in the Land and Property Asset Disposal Policy, an Asset Management Group (an advisory non-decision making group) will be set up to review, check and challenge the recommendations from the strategic property review prior to formal decision being taken on disposals of assets.