Minutes of the Commercial Assets Sub-Committee

7 October 2024

 

 

Present:

Councillor L. E. Nichols (Chair)

Councillor S.N. Beatty (Vice-Chair)

 

Councillors:

 

R. Chandler

D. Saliagopoulos

 

H.R.D. Williams

 

 

Substitutions:

Councillors M. Beecher

 

 

Apologies:

Councillors A. Gale

 

 

<AI1>

33           

Apologies for absence & substitutions

 

Apologies were received from Councillor Gale, with Councillor Beecher in attendance as his substitute.

 

</AI1>

<AI2>

34           

Minutes

 

The minutes of the meeting held on 16 September 2024 were agreed as a correct record.

 

</AI2>

<AI3>

35           

Disclosure of Interest

 

There were none.

 

</AI3>

<AI4>

36           

Questions from members of the Public

 

There were none.

 

</AI4>

<AI5>

37           

Forward Plan

 

Councillor Nichols queried when the End of Project reports would be presented to the Sub-Committee and were advised that they would be at the December meeting.

 

The Sub-Committee resolved to note the forward plan for future committee business.

 

</AI5>

<AI6>

38           

Exclusion of Public and Press (Exempt Business)

 

It was proposed by Councillor Beatty, seconded by Councillor Beecher and resolved to exclude the public and press for the following agenda items, in accordance with paragraph 3 of part 1 of Schedule 12A of the Local Government Act 1972 (as amended) because it was likely to disclose information relating to the financial or business affairs of any particular person (including the authority holding that information) and in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because disclosure to the public would prejudice the financial position of the authority in being able to undertake even-handed negotiations and finalising acceptable contract terms.

 

</AI6>

<AI7>

39           

Urgent Actions

 

There was one urgent action for the Sub-Committee to consider. The Sub-Committee were informed of a potential lease at 3 Roundwood Avenue.

 

Councillor Williams arrived at 13:42

 

The Sub-Committee resolved to agree to the recommendations as set out in the report.

 

</AI7>

<AI8>

40           

Commercial Portfolio Update

 

The Sub-Committee received updates on the commercial portfolio from the Commercial Asset Managers.

 

The Sub-Committee resolved to note the updates.

 

</AI8>

<AI9>

41           

Asset Portfolio Exit Strategies

 

The Sub-Committee considered draft exit strategies for four properties in the Asset Portfolio.

 

The Sub-Committee resolved to approve the form and detail of the Exit Strategy for each investment asset.

 

Meeting ended at 14:59

 

</AI9>

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