Decision details

To consider a report in accordance with the Council’s agreed Asset Investment Strategy

RESOLVED:

That the purchase of the commercial property as detailed in the Exempt Appendix to the report, subject to final legal due diligence and verification which will be authorised by the Executive Head of Financial & Corporate Services (Section 151 Officer) in consultation with the Finance, Investment & Corporate Services Portfolio Holder, be approved.

REASONS FOR DECISION:

As set out in the report.

KEY DECISION:

Yes.

PORTFOLIO:

Finance, Investment and Corporate Services.

ALTERNATIVE OPTIONS CONSIDERED/REJECTED:

As set out in the report.

DECLARATIONS OF INTEREST(S):

None.

DISCUSSION:

The Portfolio Holder introduced the report and highlighted the Council’s programme of commercial investment within the District.  The programme had two main ambitions, to support businesses and communities within the New Forest and to also generate revenues for the Council.  This particular opportunity supported both of these ambitions and would be an excellent addition to the Council’s property portfolio.

Property Panel, Executive Management Team, Portfolio Holder for Finance, Investment and Corporate Services