Issue - meetings

ORDERED that Executive approve the Corporate Asset Management Plan 2024-25 to 2027-28.

The Executive Member for Regeneration submitted a report for Executive consideration. The report sought approval for the implementation of the Corporate Asset Management Plan (CAMP) 2024- 25 to 2027-28.

The Council refreshed the 2014 Estate Strategy in 2019/2020. The strategy predominantly focussed on actions to improve the efficiency of the Valuation & Estates Service, with a view to understand the benefit that the town could derive from the Council’s commercial estate.

Further progress had been made with the most significant being a service restructure in August 2023, which amalgamated Strategic, Operational Property Management and Valuation & Estates. The purpose of this change being to have all property related activities managed by one service.

These changes necessitated the implementation of the CAMP, including adopting the principals of the Corporate Landlord model, which transferred responsibility for all property related activity, and expenditure, to be within the remit of the Directorate of Regeneration.

The establishment of the Corporate Asset Management Group (CAMG) would provide governance for strategic decisions relating to land and built assets.

This approach would ensure that finances were properly prioritised, management was consistent, and opportunities were realised across the whole estate. In this way, the Council could be confident that the needs of the whole organisation, as well as individual service operations, were met to allow them to provide better outcomes for the community.

The CAMP had three elements which were:

The Asset Management Policy which set out the framework of rules, culture and behaviour that would ensure the consistent management and high performance of the Council’s property assets.

The Asset Management Strategy which highlighted the strategic context, factors that would influence change, and translating organisational objectives into property objectives.

The Asset Management Action Plan was an action plan of activities and projects that delivered the Council’s property objectives.

The CAMP was attached at Appendix 1 of the report.

ORDERED that Executive approve the Corporate Asset Management Plan 2024-25 to 2027-28.

OPTIONS

Continue to adopt the principals of the 2020 Estate Strategy. This was not recommended as it did not provide a strategy that endorsed best practice of the Corporate Landlord Model and governance for the whole estate.

REASONS

The Corporate Asset Management Plan (CAMP) was a Policy and Strategic plan setting out how the property portfolio would support the Council Plan, Transformation, Corporate priorities, and objectives, providing the direction for the ongoing management of the portfolio over the next three financial years.

This would allow the Council to demonstrate robust corporate governance relating to acquisition, disposal, corporate and commercial estates management and investment.

Effective performance management would allow the council to demonstrate duty of best value by making arrangements to secure continuous improvement in the way in which Asset Management functions were exercised, having regard to a combination of economy, efficiency, and effectiveness.

The CAMP had been developed in accordance with Chartered Institute of Public Finance and Accountancy (CIPFA) Asset Management best practise guidance.