Decision details

3        COMMERCIAL AND ESTATE LAND AND PROPERTY UPDATE – The Deputy Chief Executive and Executive Director Commercial and the Director: Business Development submitted a joint report updating the Cabinet Member on the transactions through disposal, acquisitions and leases in 2020/21 and on the Disposal Strategy and Commercial Property Portfolio Outturn.

Despite the Covid 19 pandemic in 2020/21, North Lincolnshire’s manufacturing and logistics sectors had gone from strength to strength, with significant planned investment on council land moving forward.  However, a detrimental impact had been seen on some other sectors particularly the automotive and digital sectors.

The housing market had remained strong backed by government initiatives including the stamp duty holiday for house purchasers, which had enabled the building of more housing units in North Lincolnshire in 2020/21 than in the last five years.

The commercial property portfolio, acquisitions and disposal programme played a significant part in the council achieving its goals.

The Property Portfolio Framework was approved by the Commercial Cabinet Member to ensure that the council’s strategy, policies, guidance and procedures were transparent (minute 1 refers).  The framework was intended to promote expediency in the way that disposals and acquisitions were dealt with by the council.

The report and accompany appendix gave full details of transactions for 2020/21; the schedule covered activity relating to commercial and non-commercial property including acquisitions, disposals and leases.

Resolved – That the transactions for 2020/21 be noted.