Issue - meetings


Property and Investment Strategy

Meeting: 01/02/2021 - Executive (Item 95)

95 CDC Property Investment Strategy pdf icon PDF 472 KB

Report of Assistant Director Property Investment and Contract Management

 

 

Purpose of report

 

To establish a new Property Investment Strategy for the Council in line with the current economic climate and seek Members’ approval on the proposed strategy before adoption. The Property Investment Strategy forms part of the Council’s overarching Capital and Investment Strategy and therefore this document is intended to supplement that ‘master document’.

 

1.0   Recommendations

            

The Executive are asked:

 

1.1   To approve the high-level strategic approach which sets out a framework and the criteria against which any expansion or substantial capital investment in CDC’s property portfolio will be assessed.

 

Additional documents:

Decision:

Resolved

 

(1)           That the high-level strategic approach which sets out a framework and the criteria against which any expansion or substantial capital investment in CDC’s property portfolio will be assessed be approved.

Minutes:

The Assistant Director Property Investment and Contract Management submitted a report to establish a new Property Investment Strategy for the Council in line with the current economic climate and seek Members’ approval on the proposed strategy before adoption. The Property Investment Strategy formed part of the Council’s overarching Capital and Investment Strategy and therefore this document was intended to supplement that ‘master document’.

 

Resolved

 

(1)           That the high-level strategic approach which sets out a framework and the criteria against which any expansion or substantial capital investment in CDC’s property portfolio will be assessed be approved.

 

Reasons

 

This report sets out Cherwell District Council (CDC) property acquisition investment objectives for the year 2021/22 and the criteria that will be applied prior to either recommending an investment purchase or recommending substantial investment in an existing asset to the Investment Committee.

 

Alternative options

 

The sale of the investment portfolio as a whole has been considered but rejected because the portfolio currently produces income which supports the provision of statutory council services and any money raised through a programme of disposals could not be reinvested to generate a higher return.