Decision details

TheProperty and Investments Executive Sub-Committee agreed: 

a.       The revised schedule of assets in Appendix A as being the revised scope of the Non-Treasury Commercial Asset Portfolio.Including the addition ofNorthgate Yard, Bridgwater, Aspen House, Bridgwater to the scheduleand the deletion of  88-92 Middle Street, Yeovil from the schedule. 

b.      To transfer the governance overview of the asset management of 88-92 Middle Street, Yeovil to the Asset Management Group 

c.       That this Executive Sub Committee tasks officers with the following:

i              That the Service Director - Strategic Asset Management write to Elbit UK requesting an urgent meeting to discuss and clarify the current and future use of their premises at Aztec West and report back to the next meeting of this Sub Committee following that meeting.

ii             That the Interim Head of Legal Services and the section 151Officer report  to the next meeting of this Sub Committee on the potential options available to the Council as landlord of the office building at 600 Aztec West in the light of the recent public concerns and protests and the risks and benefits attached to each of those options, including (a) the implications (if any) for the financial stability of Somerset Council and (b) the opinions of the Section 151 officer, the Monitoring Officer and the External Auditor.