Decisions

The Chair requested this item be moved to the end of the agenda.

The Chair acknowledged concerns raised by Sub-Committee members regarding the presentation of reports on asset disposals. The Monitoring Officer explained the remit of the Sub-Committee and the Terms of Reference against the Asset Rationalisation Programme. The Sub-Committee expressed a desire to have scrutiny over the asset disposals before they were presented to Corporate Policy and Resources Committee for recommendation to Council. The Chair invited views from the Sub-Committee and officers as to how this could be incorporated into future meetings.

The Chair acknowledged the report on the next property disposal would be available to members at the time of the next meeting and requested a discussion item be added to the next meeting agenda. The Chair would liaise with officers over how to progress an avenue for the Sub-Committee to appropriately discuss property disposals ahead of recommendations by the parent committee.

The Sub-Committee resolved to note the forward plan.

The Sub-Committee received the Business Plans for 2026/27 for properties in the Council’s investment portfolio: Thames Tower, Porter Building, Charter Building, 12 Hammersmith Grove, World Business Centre 4, Elmsleigh Shopping Centre, Elmbrook House, Communications House, Summit Centre, and BP Main and Southwest Corner. The plans were prepared annually and covered a six-year period. The Principal Asset Manager acknowledged a number of the assets were currently being marketed, but the business plans were part of usual asset management.

The Sub-Committee noted that the figures set out in the Business Plans would be reflected in future sales documents, and explored how capital financing requirements were treated for the properties individually.

The Sub-Committee resolved to note the Business Plans for 2026/27 for the investment portfolio.