Property Asset Strategy 2017 to 2020

This Property Asset Strategy addresses the strategic management of property assets across our property portfolio. The assets are diverse and range from offices to grazing land. It is important to note that the property assets referred to are ˜fixed property assets of a building construction and/or land nature. Assets such as play equipment components, located in parks, are not classed as property assets covered by this Strategy. Property assets include physical assets, e.g. sports halls, depots, and intangible assets such as leases and ground rents.

Our non-housing property assets are currently valued at £54,451,000 (excluding equipment and intangibles) in the 2015/16 Statement of Accounts. This is the ˜book value of the assets, assuming continued use by the Authority, and excludes Community Assets. Asset valuations for Community Assets are not currently required for accounting purposes. The figure does not represent the value that may be secured from the disposal of the assets on the open market.

Open market value aside, the book value is considerable and demonstrates the importance of property assets to us. It is also obvious why it is important to manage the property resource effectively and to ensure that the assets are both needed and are value for money.

Download the Property Asset Strategy for 2017 to 2020 (PDF 663kb).