Issue - meetings

This item was deferred from the Extraordinary Council Meeting held 17 November.

A recorded vote was taken.

Council resolved to:

1.    Consider and agree the principle of Asset Rationalisation as set out in the report,

2.    Approve the commencement of the procurement of a specialist adviser through an appropriate framework.

3.    Delegate authority to the s.151 Officer and Group Head of Assets, in consultation with the Leader and Deputy Leader, the Chair of the Commercial Assets Sub-Committee and Chair of the Business Infrastructure and Growth Committee, to appoint the preferred bidder from the above procurement to assist in the implementation of an Asset Rationalisation Strategy; and

4.    Delegate authority to the Group Head of Corporate Governance to enter into a contract with the proposed advisers.

Councillor Geach left the chamber at 10pm

This is a draft report as it is to be considered by the Corporate Policy and Resources Committee on 11 November so may be subject to amendments.

This item was deferred to the next Council meeting to be held on 11 December 2025.

Committee is asked to:

1.    Consider and agree the principle of Asset Rationalisation as set out in this report and recommend this to Council;

2.    Approve the commencement of the procurement of a specialist adviser through an appropriate framework;

3.    Delegate authority to the S. 151 Officer and Group Head of Assets, in consultation with the Leader and the Deputy Leader, the Chair of the Commercial Assets Sub-Committee, and Chair of the Business, Infrastructure and Growth Committee, to appoint the preferred bidder from the above procurement to assist in the implementation of an Asset Rationalisation Strategy;

4.    Delegate authority to the Group Head of Corporate Governance to enter into a contract with the proposed advisors.

Appendix 1 contains exempt information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to Information) (Variation) Order 2006 Paragraph 3 – 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 any lease, contract or other type of negotiation with the tenant or developer, who could then know the position of the Council.

The Committee resolved to:

1.     Consider and agree the principle of Asset Rationalisation as set out in the report and to recommend this to Council,

2.     Approve the commencement of the procurement of a specialist advisor through an appropriate framework,

3.     Delegate authority to the Section 151 Officer and Group Head of Assets, in consultation with the Leader and the Deputy Leader, the Chairs of the Commercial Assets Sub-Committee and the Business, Infrastructure and Growth Committee, to appoint the preferred bidder from the above procurement to assist in the implementation of an Asset Rationalisation Strategy; and

4.     Delegate authority to the Group Head Corporate Governance to enter into a contract with the proposed advisors.

The Committee considered a report on the principle of Asset Rationalisation and procurement of a specialist advisor to assist in the implementation of an Asset Rationalisation Strategy. Agreeing the principle and procurement would be a first step in addressing one of the statutory directions issued to the Council by MHCLG. Asset Rationalisation would also offset the impact of implementing a new MRP policy and debt rescheduling.

The Committee noted the modelling set out in the report were assumptions and final figures would be impacted by a number of external factors. Any reports on specific assets would be brought before the Committee with the most up-to-date information available for decision. A member of the Committee suggested that dynamic modelling was required which would reflect all variables that impacted final asset values.

Councillor Clarke requested a recorded vote.

The Committee resolved to:

1.    Consider and agree the principle of Asset Rationalisation as set out in the report and to recommend this to Council,

2.    Approve the commencement of the procurement of a specialist advisor through an appropriate framework,

3.    Delegate authority to the Section 151 Officer and Group Head of Assets, in consultation with the Leader and the Deputy Leader, the Chairs of the Commercial Assets Sub-Committee and the Business, Infrastructure and Growth Committee, to appoint the preferred bidder from the above procurement to assist in the implementation of an Asset Rationalisation Strategy; and

4.    Delegate authority to the Group Head Corporate Governance to enter into a contract with the proposed advisors.