Issue - meetings

To receive a report on the progress of the surplus assets review.

The committee noted the progress on surplus assets, including:

The estimated range of values of capital receipts potentially deliverable before 31 March 202

Further work planned to review assets and agreeing further surplus assets

To note the target for the sales for the financial years 2023/24 and 2024/25 which will feed into the Medium Term Financial Plan.

Ollie Woodhams presented his report updating the committee on the progress of surplus assets. It was confirmed that the Policy for the Disposal of Assets was approved in November 2023. Any proposed disposals were subject to consultation/discussions with local councillors and parish/town councils.

It was noted the estimated values of capital receipts potentially deliverable before 31 March 2025 through the sale of surplus assets was set out in the table within the report, with the target from the sales from current disposals was within the range of £15-20m for the years 2023-24 and 2024/25 which fed into the MTFP.

There were a number of other land and property assets to be considered as to whether they were surplus to the Council`s needs and there was a Asset Management Group undertaking this review with any proposals being referred for decision through the Council`s decision making framework.

The committee noted that there were a number of issues to take into account including planning/phosphates, use of buildings and land parcels. It was also noted that resources were needed and posts vacant.

Resolved:

The committee noted the progress on surplus assets, including:

The estimated range of values of capital receipts potentially deliverable before 31 March 202

Further work planned to review assets and agreeing further surplus assets

To note the target for the sales for the financial years 2023/24 and 2024/25 which will feed into the Medium Term Financial Plan.