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 identified risks and mitigation strategies.

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. This review is part of the council's commitment to transparency, accountability, and continuous improvement in investment performance.

The following entities were discussed:

• Surrey Property Group (SPG), under Halsey Garton, has had a successful year in letting out its buildings. A plan is underway to transfer all assets back to Surrey County Council and close the company.
• Halsey Garton Residential is continuing to sell off properties as part of the company's planned closure.
• Hendeca Group is nearing the end of its company closure process, having declared a dividend of £600,000.
• Surrey Choices has made progress, including opening a new respite centre and updating its systems, despite operating under uncertainty due to ongoing contract negotiations.
• Connect2Surrey has undergone restructuring and is focusing on direct fill placements to improve its profit margins.
• TRIX and the UK Municipal Bonds Agency were noted as minority holdings, with details included in the report.
• Surrey County Council Investment Properties (SCCIP) is continuing with planned disposals, with three remaining properties expected by the end of the year, including Brightwell's, where significant progress has been made on leasing vacant spaces.

The decisions regarding the future of these companies are partly driven by local government reorganisation, aiming to simplify holdings for the two new unitary authorities that will inherit the council's assets. The closure of Hendeca Group was deemed a necessary step regardless of reorganisation. Surrey Choices has recently undergone a re-tender process, with further discussions planned. Surrey and Kent Commercial Services, used for staff recruitment, has seen a decrease in costs but also a reduction in volume due to fewer unnecessary roles being filled as the council's lifespan nears its end.

The Board resolved to:

1. Note the governance process followed in reviewing the performance reports from investments.
2. Note the content of the report and provide any steer.
3. Note the key risks identified and the mitigation strategies in place.

These decisions were made to ensure transparency, highlight risks and opportunities, and drive accountability and strategic oversight. The decisions can be called in by the Resources and Performance Select Committee.