Decision details

Review of Shops Portfolio

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report considers the options available for the shops portfolio, 87of these are held in the Housing Revenue Account (HRA), the remaining 10 being held in the General Fund. It seeks to maximise the use of the assets to both maximise income and minimise debt by optimising the management of the portfolio

Decision:

  1. That authority be given to dispose of the twenty seven properties specified in the report (on such terms as are indicated in this report and otherwise as the Head of Asset Strategy and Portfolio Management and Assistant Director (Legal and Democratic Services) consider appropriate).

 

  1. That the net capital raised from these disposals be used to recover the costs involved, set aside for housing and regeneration purposes and in so far as is possible to repay debt be approved.

 

  1. That authority be delegated to the Cabinet Member for Housing, in conjunction with the Director of Housing and Regeneration, the Director of Finance and Corporate Services, the Assistant Director Building Property Management and the Assistant Director (Legal and Democratic Services), to tender out to source the property management for the remaining properties in the portfolio (on such terms as are indicated in this report and otherwise as the Head of Asset Strategy and Portfolio Management and Assistant Director (Legal and Democratic Services) consider appropriate).

 

Report author: Kathleen Corbett

Publication date: 20/07/2011

Date of decision: 18/07/2011

Decided at meeting: 18/07/2011 - Cabinet

Effective from: 25/07/2011

Accompanying Documents: