Agenda and decisions

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

Apologies were received from Councillor Chandler, and Councillor Howkins attended as her substitute.

To confirm as a correct record the minutes of the meeting held on 05 August 2024.

The Committee resolved to agree the minutes of the meeting held on 5 August 2024 subject to the amendments raised at the meeting.

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

There were none.

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 none.

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

The Committee resolved to note the forward plan for future committee business.

To receive an update on the recruitment process for the Independent Person.

The Committee resolved to note the update on the recruitment of an independent person for the Commercial Assets Sub-Committee.

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.

To receive an update on the rent collection, voids and arrears of the Commercial Portfolio.

To consider a report on the proposed letting terms for the 3^rd and 4^th Floors of Tothill Car Park.

The Committee resolved to:

1)    Approve the letting of the 3^rd and 4^th Floors of Tothill Car Park;

2)    Authorise the Group Head of Assets in consultation with the Chair and Vice-Chair of the Commercial Assets Sub-Committee to agree to any variations to the proposed terms; and

3)    Authorise the Group Head of Corporate Governance to enter into the lease and any ancillary legal documentation.

To consider a report on the proposed reletting of Unit 46, Elmsleigh Shopping Centre.

The Committee resolved to

1)    Approve the letting of Unit 46 Elmsleigh Shopping Centre;

2)    Authorise the Group Head of Assets in consultation with the Chair and Vice-Chair of the Commercial Assets Sub-Committee to agree to any variations to the proposed terms; and

3)    Authorise the Group Head of Corporate Governance to enter into the agreement for lease and any ancillary legal documentation.

To consider a report on the draft exit strategy for each investment asset.

The Committee resolved to approve the form and detail of the Exit Strategy for each investment asset subject to incorporation of the comments raised at the meeting.