Decision details

Potential decision items relating to decisions to acquire property where in line with the Council’s Constitution, the level of investment requires Cabinet agreement (acquisitions in excess of £2m). If no such decisions are needed, this item will be withdrawn.

Cabinet considered a confidential report seeking its approval for a commercial property investment that would enable the Council to pursue its Business Plan objective of supporting businesses, and deliver positive financial returns.

Cabinet approved:

(a)        The investment outlined in the report from the Interim Director of Finance as a multi-let office investment in accordance with the approved Investment Strategy; and

(b)        The delegation of the final terms of the acquisition of the property to the Lead Member for Finance and Interim Director of Finance.