Purpose

Following a review by CIPFA property specialists, the report will present recommendations for the future delivery model of the Council's property functions.

Decision

AGREED: That cabinet noted the report and:

i)                 Approved the abolition of the current company structure and replaces it with an Asset Holding Company (AHC) to manage Council property holdings.

ii)               Approved a cost-neutral financial model, ensuring sustainable property management.

iii)             Delegated authority to the Executive Director of Place Services, in consultation with the Cabinet Member for Planning, Governance, and Asset Management, to implement the changes.

iv)             Noted the previous approval obtained in July 2024 to bring all operational responsibilities back in-house into the Council’s Place Directorate.