Issue - meetings
Assets and Property Overview & Strategy Brief (2019-2023) 'Making property assets work for Brent'
Meeting: 16/07/2018 - Resources and Public Realm Scrutiny Committee (Item 5)
With the current asset strategy running from 2016 to 2019, this paper is intended to give Overview and Scrutiny Committee an outline of the scale of property assets (excluding Housing Revenue Account properties) and a brief outline of the main focus areas for the new property strategy being developed for 2020 onwards. The contents are provided for information, feedback and discussion to help guide and support the development of the new strategy. The final strategy is due to be developed and delivered during 2019.
Minutes:
At the invitation of the Chair, Councillor McLennan (Deputy Leader) introduced the report outlining the council’s property assets and focus areas for the new Property Strategy being developed for 2020. In doing so, Councillor McLennan advised that she had taken over responsibility for this portfolio area at the start of the new administration in May 2018. Councillor Butt, the previous portfolio holder was also present to address any questions as necessary, alongside Althea Loderick (Strategic Director, Resources) and Oliver Judges (Interim Director of Assets and Property). Councillor McLennan emphasised that the Strategy would address how the council’s assets would be employed to the benefit of the council through cost reduction, income generation and value generation.
In the subsequent discussion, Members welcomed the strategic approach described and sought further detail regarding the process of property valuation and frequency of review. The committee advised that transparency was needed with regard to the provision rental subsidy for council assets and the associated decision-making process and sought confirmation of how often these arrangements were reviewed. Members sought assurance that assets would not be sold off en masse and questioned how the council’s property portfolio compared with those of other authorities. It was further queried how the council’s asset management strategy aligned with the One Public Estate initiative. A member proposed that organisations in receipt of a rental subsidy be advised of the level of discount provided in their monthly bill in order to highlight the council’s contribution to social value. It was further commented that the council should promote more widely the support it continues to offer the community and voluntary sector, even during times of austerity, via the provision of rental subsidies and suggested that this contribution should be quantified.
With reference to the table of council assets previously provided to the committee at its meeting in February 2018, the committee stated that for each asset the council should detail the commercial value, strategic value, rental value, lease expiry date and other relevant information and issues that would complicate usage or disposal. The committee sought confirmation of the timescales for completing this work. Members questioned the options appraisal process for vacant or underutilised assets and queried whether councillors’ feedback would be taken into consideration within the broader assets review. The committee sought comment on the usage of space within the Civic Centre and the provision of space for start-ups and small and medium sized enterprises (SME).
In response to the queries raised, Oliver Judges advised that in line with standard practice in local authorities, Brent Council conducted a mixture of desktop valuations and externally procured valuations. Where the options of disposal or development were considered, an external valuation would always be sought to ensure the council maximised value. Councillor Butt emphasised that many of the decisions to offer properties on a subsidised rental basis had been taken a number of years ago and the assessments of social value had been undertaken on a case by case basis.
Oliver Judges advised that the ... view the full minutes text for item 5
Meeting: 03/07/2018 - Resources and Public Realm Scrutiny Committee (Item 9)
With the current asset strategy running from 2016 to 2019, this paper is intended to give Overview and Scrutiny Committee an outline of the scale of property assets (excluding Housing Revenue Account properties) and a brief outline of the main focus areas for the new property strategy being developed for 2020 onwards. The contents are provided for information, feedback and discussion to help guide and support the development of the new strategy. The final strategy is due to be developed and delivered during 2019.
Minutes:
At the start of the meeting, the committee agreed the deferral of this item to a special meeting of the committee scheduled for 16 July 2018.