The following strategy sets out the council’s approach to property investments. This builds on existing practice in this Council and takes into account feedback from PDS Resources discussions over the last 12 months. The Council has an investment estate valued at £264 million in the 2016/2017 accounts most of which was transferred to the Council when it was created in 1996 and some of which has been in public ownership for several centuries.
This strategy has been prepared for the Cabinet Member for Finance & Efficiency as a background document to support the budget proposals to the February 2018 meetings of Cabinet and Council. The draft Council budget includes targets for increased commercial estate investment income and these targets are also reflected in the Operational Plan reported to the January 2018 meetings of PDS as part of the consultation on the budget. The principles underpinning the approach were also referred to in the budget consolations with Area Forums in November 2017. The approach being followed not only generates income but also helps diversify risk and supports essential Council services.