Decision Maker: Cabinet Member for Finance and Resources
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
As part of its capital programme management, in line with the County Council’s West Sussex Asset Management Policy and Strategy, the Council continually reviews its property estate. This includes consideration of assets which are likely to become surplus to operational requirements, i.e. no longer needed. In addition, the Council acquires or develops assets to meet statutory and service requirements as well as the Council’s wider purposes, including investment or to promote social and economic development opportunities. From time to time these activities give rise to decisions to purchase, dispose of or to develop an asset.
In February 2018 Full Council approved the Capital Programme for 2018/19 which included £50m for Investment Property Opportunities to deliver a revenue return as part of its overall Treasury Management Strategy to deliver the investment ambition agreed by Council.
In line with the approach the Cabinet Member has endorsed the acquisition of the freehold of a property in Hove, East Sussex.
None
Publication date: 18/02/2019
Date of decision: 18/02/2019
Effective from: 28/02/2019
Accompanying Documents: