Issue - meetings

Members considered an annual report of the commercial property investment portfolio.  The following points were highlighted:

·         This was the second annual report; 4 properties had been acquired in the year, making five in total costing £15.95 million;

·         A greater return had been made from the yield being in excess of the target;

·         It was good to see that the portfolio included properties within the District as well as other properties across the East Midlands;

·         Other purchases that had been worked on were not progressed if they were found to be unsuitable.  There were other times when WLDC had been outbid;

·         Some caution needs to be taken with the High Street and any potential purchases in this area;

·         The Economic Development Strategy was about investing back into the District;

·         Some authorities have invested large sums of money into commercial property; WLDC follows CIPFA recommendations. 

RESOLVED to note the report.