Issue - meetings

The Lead Member forFinancial Oversight, Council Assets, Procurement and Revenue & Benefits introduced a report that set out the progress made in delivering the first phase of the Asset Disposal Programme and the approach proposed for the second phase.

The Asset Disposal Strategy had been approved in October 2022 and significant progress had been made by the Council in the first year of delivery with a total of £207m of capital receipts up to July 2023. Several other assets were either under offer or undergoing marketing taking the total in phase 1 to £312m.  Phase 2 of the programme would include assets in the ‘operational’ portfolio which were properties that were currently being used to deliver Council services from.  The Lead Member highlighted that each asset would need to be carefully reviewed to assess any impacts on service delivery or communities.

A new Asset Disposal Strategy had been drafted and was set out at Appendix 2 to the report.  It reflected the improved financial position of the Council and the nature of the remaining property assets.  The Committee was asked to review the draft and recommend approval to Cabinet on 18^th September 2023.  The Committee emphasised the importance of ensuring best value was achieved in all disposals made under the programme and that there be strong Member engagement in phase 2 given the potential impacts of disposing of operational assets.  After due consideration the recommendations were approved.

Resolved –

(a)  That the positive progress that had been made in delivering the first phase of the Asset Disposal Programme as set out in Appendix 1 to the report be noted;

Recommended to Cabinet –

(b)  That a new Asset Disposal Strategy as set out in Appendix 2 to the report be approved.