Decision details

Property Portfolio Investment Strategy

Decision Maker: Executive

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

Purpose: To agree to investment in a property portfolio and the criteria used in evaluating opportunity purchases

Decision:

That:

 

1)           the broad principles of the Property Portfolio Investment Strategy as set out in Part 2 of the report be endorsed;

 

2)           delegated authority be given to the Director of Corporate Services, in consultation with the Leader, Executive Member for Finance and the Executive Member for Business, Economic Development and Regeneration, for purchases totalling up to £100m;

 

3)           Council be recommended to agree that up to £100m borrowing powers are delegated to the  Director of Corporate Services, in consultation with the Leader, Executive Member for Finance and the Executive Member for Business, Economic Development and Regeneration;

 

4)           it be noted that the cost of borrowing will be funded by the investment income from the commercial assets;

 

5)           it be noted that developments on Council owned land will be brought back individually to Executive on a case by case basis.

 

Wards Affected: None Specific;

Declarations: None

Dispensations: None

Reference Number: WBC967

Contact: Chris Gillett Email: chris.gillett@wokingham.gov.uk Tel: 0118 974 6688.

Report author: Chris Gillett

Publication date: 28/09/2017

Date of decision: 28/09/2017

Decided at meeting: 28/09/2017 - Executive

Accompanying Documents: