Minutes

1        UPDATED PROPERTY PORTFOLIO FRAMEWORK – The Deputy Chief Executive and Executive Director Commercial and the Director: Business Development submitted a joint report seeking approval of the updated Property Portfolio Framework.

The development of the commercial property portfolio and the asset disposal programme played a significant part in the council achieving its goals.

The Property Portfolio Framework was developed to ensure that the council’s strategy, policies, guidance and procedures were transparent. The framework was intended to promote expediency in the way that disposals and acquisitions were dealt with by the council. It was for use by council officers and to inform developers and members of the public.

The updated framework set out the council’s internal policies and procedures relating to disposals and acquisitions of land and property. It ensured that the council operated in full accordance with statutory requirements.

Resolved – That the updated Property Portfolio Framework be approved.

The corresponding report of the following item (Minute 2 refers) contains exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 (as amended).

2        COMMERCIAL AND ESTATE LAND AND PROPERTY UPDATE QUARTER 1 2021/22 - The Director: Business Development submitted a report updating the Cabinet Member on transactions through disposal, acquisitions and leases in Quarter 1 2021/22 and the Disposal Strategy and Commercial Property Portfolio position at the end of Quarter 1 2021/22.

The council was committed to the delivery of its organisational goals of Progressive, Enabled, Commercial and Sustainable.  The council’s commercial property portfolio, acquisitions and disposal programme played a significant part in achieving these goals.

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

The report and accompanying appendix gave full details on transactions for Quarter 1; the scheduled covered activity relating to commercial and non-commercial property including acquisitions, disposals and leases.  Key decisions for Quarter 2 were also noted on the schedule.

Resolved – That the transactions for Quarter 1 2021/22 and potential Key Decisions for Quarter 2 be noted.

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.