To receive a briefing from the Group Manager for Property Services and Commercial Assets on the viability of council owned commercial property
Minutes:
The Committee had before it and NOTED a *report of the Group Manager for Corporate Property and Commercial Assets providing an update on the viability of Council owned commercial property.
The officer outlined the contents of the report stating that the Council worked with local agents to fill voids in any council owned property. The overall objective of the Council in the management of its property portfolio was to utilise and manage its commercial property in accordance with the principles of best value which enabled high quality services to be provided to tenants. The portfolio included commercial property and properties such as Market Walk and properties in Fore Street, Tiverton. He outlined the Asset Management Strategy and Capital Asset Management Plan and the work of the Capital Assets Management Group.
Consideration was given to:
· The list of premises owned available within the report
· Income received from rents
· The draft audit report
As Members wished to consider some of the information within the Part II appendices it was:
RESOLVED that under Section 100A(4) of the Local Government Act 1972 the public be excluded from the next item of business on the grounds that it involves the likely disclosure of exempt information as defined in paragraph 3 respectively of Part 1 of Schedule 12A of the Act, namely information relating to the financial or business affairs of any particular person (including the authority holding that information)
(Proposed by the Chairman)
Following consideration of income received from commercial properties the meeting returned to open session.
Note: *Report previously circulated.
Supporting documents: