The Strategic Investment Board met on Monday 15 June 2026 to review the performance of the council's investment companies and properties for the 2025/26 financial year. The Board noted the governance processes, performance reports, and key risks identified, approving the recommendations presented.

2025/26 Performance Review of Investment Companies and Properties

The Board reviewed the performance of various investment companies and properties during the 2025/26 financial year. Jackie Simpson, Senior Finance Business Partner, provided an overview of the individual companies within the group.

• Surrey Property Group (SPG), under Halsey Garton, had a successful year in letting out its buildings. A plan agreed in January 2026 to transfer all assets back to Surrey County Council and close the company is now underway.
• Halsey Garton Residential is continuing to sell properties as part of the company's eventual closure.
• Hendeca Group is nearing closure, having declared a dividend of £600,000. Final tax returns are being processed.
• Surrey Choices has made progress, including opening a new respite centre and updating its systems, despite operating under uncertainty and ongoing contract negotiations.
• Connect2Surrey has undergone restructuring and continues to focus on direct fill placements to improve margins.
• Minority holdings in TRIC Consortium Ltd and the UK Municipal Bonds Agency were noted as detailed in the report.
• Surrey County Council Investment Properties (SCCIP) is continuing with planned disposals, with three remaining properties at the end of the year, including Brightwells, where significant progress has been made in letting vacant spaces.

Councillor Tim Oliver OBE, Leader of the Council, noted that some of these decisions were driven by local government reorganisation, aiming to simplify holdings for the two new unitary authorities that will inherit the council's assets. He added that the closure of Hendeca was a sensible decision regardless of reorganisation.

The Board resolved to note the governance process followed in reviewing the performance reports, to note the content of the report and provide any steer, and to note the key risks identified and the mitigation strategies in place. These decisions were made to ensure transparency, accountability, strategic oversight, and continuous improvement in company and investment performance. The decisions can be called in by the Resources and Performance Select Committee.

The meeting then moved into a Part 2 session, which involved the exclusion of the public due to the likely disclosure of exempt information, to discuss more sensitive commercial details.