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Issue - meetings

Annual Update on Investment Property Portfolio

 

 

Meeting: 03/06/2026 - Overview and Scrutiny Committee (Item 136)

136 Annual Update on Investment Property Portfolio pdf icon PDF 268 KB

Purpose

To inform the Committee of the performance of the Council’s investment property portfoliofor 2025/26.

 

 

Recommendation

That Overview and Scrutiny Committee resolves to:

1.    Note the report and make any applicable recommendations for the Executive to consider at the meeting on 10 June.

 

Additional documents:

Minutes:

Councillor Alaric Smith, Executive Member for Finance introduced the item, the purpose of which was to inform members on the annual returns of properties owned by the council classified as investment properties. 

 

The Head of Assets presented the item, making the following points, which also addressed questions that were asked by members under other agenda items:

 

  • The council was in negotiation with interested parties over unit 10 at Marriotts Walk, but details of the prospective tenants could not be discussed in open session.
  • Kilkenny Country Park was managed by Ubico, who undertook maintenance to the grass on instruction from the Biodiversity Team. The council was in the process of procuring new benches and concrete pads for the park. 
  • The Annual Report on Investment Property Performance was brought to the committee every year around the same time period; the report brought to the committee was the most recent, for the 25/26 financial year. The report dealt strictly with properties classified for investment; this excluded properties such as Marriotts Walk and Woolgate as they were not classified as investment properties.
  • The council originally had a capital strategy that had a targeted ratio of property assets to financial assets of 65:35. The council was slightly over the desired ratio on property assets, with the ratio of property assets to financial assets shown to be 67:33. 
  • The value of the council’s investment portfolio was £42.44m. This was a reduction since last year’s report which was explained by the sale of the Knight’s Court property in the previous year. 
  • Rental incomes had reduced, accredited to commercial tenants and their want for more flexibility in their leases. 

 

There was no further discussion on the report.

 

 

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