Issue - meetings

To receive an update from Councillor Richard Brooks on his work during 2018/19 in his capacity as Portfolio Holder for Assets.

Councillor Richard Brooks presented an update on the work carried out to date during the 2018/19 municipal year in his capacity as Executive Portfolio Holder for Assets.

It was reported that the Council took a cautious approach when making decisions about which assets to invest in; for example over the past year officers had investigated between 30 and 40 investment opportunities but proceeded with only two. When looking at property, the Council either invested in a property because of its long-term income generation potential or because it fell into the Council’s regeneration strategy. 

It was clarified that the Council was working with retailers to identify appropriate alternative locations they could move to once the regeneration of the London Road Development started.  The Council worked closely with its professional advisors, Montagu Evans to maintain existing, and attract new retailers to the SQ.

The Committee commended the work that officers had done to date to improve Camberley town centre and sought clarification on what was being done to support the retailers in the villages.  The pressure that rent rises were having on independent retailers was acknowledged. However, the Council had limited powers to intercede where private landlords were responsible for setting rent levels.

The Committee thanked Councillor Brooks for his update.