Issue - meetings

To note the Half Year Commercial Property Portfolio Review.

The Sub-Committee received a report from the Principle Asset Manager on the Half Year Portfolio Review. The Sub-Committee were advised that the South East market remains challenging and that the investment market was still quiet. The retail market was faring better with spending up by 2% with £1.1b in retail sales within the first six months of 2024.

The Sub-Committee requested clarification on the private and public version of the report and were advised that the changes were in section 4 and the summary.

It was proposed by Councillor Beecher, seconded by Councillor Beatty and resolved to exclude the public and press for the remainder of the item, 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.

The Sub-Committee returned to open session.

The Sub-Committee resolved to note the report.