Agenda and draft minutes

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

Apologies were received from Councillors Chandler and Saliagopoulos. Councillor Howkins attended as a substitute for Councillor Saliagopoulos.

To confirm as a correct record the minutes of the meeting held on 16 March 2026.

The minutes of the meeting held 16 March 2026 were agreed as a correct record.

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 taken since the last meeting.

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

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.

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 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.

The Sub-Committee will receive a presentation from the appointed advisors of the 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.

The Sub-Committee is asked to acknowledge the investment asset valuations as at 31 March 2026 for inclusion within the Council’s Statement of Accounts.

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.

To receive an update on properties within the Commercial portfolio.

This update 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 contract or other type of negotiation with a prospective purchaser who could then know the position of the Council.

The Sub-Committee received updates on the rent collection, arrears and voids within the Commercial Portfolio.

The Sub-Committee resolved to note the updates.