Minutes of the Commercial Assets Sub-Committee
11 May 2026
Present:
Councillor L. E. Nichols (Chair)
Councillor S.N. Beatty (Vice-Chair)
Councillors:
|
H.R.D. Williams
Independent Member: M Bunney |
|
|
|
Substitutions: |
Councillors K. Howkins (In place of D. Saliagopoulos) |
|
Apologies: |
Councillors R. Chandler |
|
In Attendance: |
Councillors M. Gibson, P.N. Woodward and C. Bateson |
|
20/26 |
Apologies for absence & substitutions
|
Apologies were received from Councillors Chandler and Saliagopoulos. Councillor Howkins attended as a substitute for Councillor Saliagopoulos.
|
21/26 |
Minutes
|
The minutes of the meeting held 16 March 2026 were agreed as a correct record.
|
22/26 |
Disclosure of Interest
|
Councillor Williams advised he was employed part-time at a unit in the Elmsleigh Centre.
Mark Bunney, Independent Member of the Sub-Committee, advised he was employed by Knight Frank Investment Management LLP, a wholly owned subsidiary of Knight Frank LLP, and would not provide an opinion or view on matters where Knight Frank had provided valuation.
|
23/26 |
Questions from members of the Public
|
There were none.
|
24/26 |
Urgent Actions
|
There were no urgent actions taken since the last meeting.
|
25/26 |
Forward Plan
|
The Chair noted that provisions would be made at the Annual Council meeting for the membership of the sub-committee to be agreed, and it would be able to continue to meet regularly.
The Sub-Committee resolved to note the forward plan for future sub-committee business.
|
26/26 |
Exclusion of Public and Press (Exempt Business)
|
It was proposed by Councillor Beatty, seconded by Councillor Williams, 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 circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because the 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.
|
27/26 |
Presentation from Appointed Advisors of Asset Rationalisation Programme
|
The Sub-Committee received a presentation from the appointed advisors of the Asset Rationalisation programme.
Draft timescales, phases, and summaries of properties were provided to the sub-committee.
The Sub-Committee resolved to note the presentation.
|
28/26 |
Investment Assets Valuation 31 March 2026
|
The Sub-Committee received the Investment Assets Valuations as at 31 March 2026. The valuations would be included within the Council’s Statement of Accounts.
The Sub-Committee noted that valuations were backward looking.
The Sub-Committee resolved to acknowledge the investment asset valuations as at 31 March 2026 for inclusion within the Council’s Statement of Accounts.
|
29/26 |
Commercial Portfolio Update
|
The Sub-Committee received updates on the rent collection, arrears and voids within the Commercial Portfolio.
The Sub-Committee resolved to note the updates.