Agenda and draft minutes

To elect a Chair for this meeting of the Commercial Assets Sub-Committee.

To seek nominations for Chair and Vice-Chair of this Committee and make a recommendation to Council for these appointments.

It was proposed by Councillor Saliagopoulos, seconded by Councillor Howkins and resolved that Councillor Nichols be elected Chair of the meeting.

It was proposed by Councillor Howkins, seconded by Councillor Saliagopoulos and resolved to recommend to Council that Councillor Nichols be appointed as Chair of the Sub-Committee.

It was proposed by Councillor Howkins, seconded by Councillor Saliagopoulos and resolved to recommend to Council that Councillor Saliagopoulos be appointed as Vice-Chair of the Sub-Committee.

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

Apologies were received from Councillors Beatty, Chandler and Williams. Councillor Howkins attended as Councillor Chandler’s substitute.

To confirm as a correct record the minutes of the meeting held on 11 May 2026.

The minutes of the meeting held 11 May 2026 were agreed as a correct record.

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

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

The Chair confirmed that items relating to sale of properties would be added to the forward plan as required.

The Sub-Committee resolved to note the forward plan.

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

This item would be covered under Item 11.

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 Nichols that the public and press be excluded for the remaining agenda items, in accordance with paragraph 3 of part 1 of schedule 12A of the Local Government Act 1972 (as amended) because it as 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 motion was not seconded and fell.

The Chair adjourned the meeting in view of the remainder of the agenda containing commercially sensitive information. The remainder of business would be carried over to a later meeting.

Meeting ended 13:44.

The Sub-Committee is asked to consider the business plans for the investment portfolio.

This item was not discussed.

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.

This item was not discussed.

To consider an urgent action taken since the last committee meeting on 11 May 2026.

This item was not discussed.