Agenda, decisions and draft minutes

To receive any apologies for non-attendance and details of Member substitutions.

Apologies were received from Councillor Beecher.

To confirm as a correct record the minutes of the meeting held on 17 November 2025.

The minutes of the meeting held 17 November 2025 were agreed.

To receive any disclosures of interest from members in accordance with the Members’ Code of Conduct.

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.

The Chair, or his nominee, to answer any questions raised by members of the public in accordance with Standing Order 40.

At the time of publication of this agenda no questions were received.

There were none.

To consider any urgent action that have arisen since last meeting.

There were no urgent actions to be considered.

To note the Forward Plan for future Commercial Assets Sub-Committee business.

The Committee resolved to note the Forward Plan.

To move the exclusion of the Press/Public for the following items, in view of the likely disclosure of 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.

It was proposed by Councillor Beatty, seconded by Councillor Chandler 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.

To receive an update on properties within the Commercial portfolio.

The Committee resolved to note the Tenancy Management related activities within the Investment Portfolio.

The Sub-Committee received updates on the Council’s Commercial Portfolio from the Assets Team.

The Sub-Committee resolved to note the updates.

To approve the Annual Service Plan for the Investment portfolio for the period 1 April 2026 to 31 March 2027.

The Committee resolved to note the Annual Service Plan for the Investment Portfolio for the period 01 April 2026 to 31 March 2027.

The Sub-Committee resolved to note the Annual Service Plan for the Investment Portfolio for the period 01 April 2026 to 31 March 2027.

•                  To authorise the commencement of the procurement process for the selection of a property management agent for the Elmsleigh Shopping Centre.

•                  To authorise the Group Head of Assets, in consultation with the Chair of Commercial Assets Sub Committee, to select the preferred tenderer and award a property management contract.

The Committee resolved to:

1.    Authorise the Group Head of Assets to commence the procurement process for the selection of a property management agent for the Elmsleigh Shopping Centre in accordance with the terms of this report,

2.    Authorise the Group Head of Assets in consultation with the Chair of Commercial Assets Sub-Committee to select the preferred tenderer and award a property management contract for the period of 2 years plus 1 year extension; and

3.    Authorise the Group Head of Corporate Governance to enter into the contract.

The Sub-Committee considered a report that sought approval for the re-tendering of the property management contract for the Elmsleigh Shopping Centre, Staines-upon-Thames.

The Sub-Committee were advised that it was proposed that an open tender process be commenced for a 2 + 1 year contract in January and that a recommendation would be brought to the Sub-Committee in April/May. Details of the tender would be placed on the government tender website to encourage smaller companies to submit a tender

The Sub-Committee resolved to:

1.    Authorise the Group Head of Assets to commence the procurement process for the selection of a property management agent for the Elmsleigh Shopping Centre in accordance with the terms of this report,

2.    Authorise the Group Head of Assets in consultation with the Chair of Commercial Assets Sub-Committee to select the preferred tenderer and award a property management contract for the period of 2 years plus 1 year extension; and

3.    Authorise the Group Head of Corporate Governance to enter into the contract.

The meeting closed 14:26