Agenda and minutes

Venue: Committee Rooms, 2nd Floor, West Wing, Guildhall

Contact: Richard Holt  Email: Richard.holt@cityoflondon.gov.uk

Items
No. Item

1.

Apologies for Absence

Minutes:

Apologies for absence were received from Dhruv Patel, Deputy Phillip Woodhouse and Christopher Hayward.

 ...  view the full minutes text for item 1.

2.

Members' Declarations under the Code of Conduct in respect of items on the agenda

Minutes:

There were no declarations.

 ...  view the full minutes text for item 2.

3.

Minutes pdf icon PDF 63 KB

To approve the public minutes and non-public summary of the Property Investment Board meeting held on 20 March 2019.

 

 ...  view the full agenda text for item 3.

Minutes:

Members considered the draft public minutes and non-public summary of the last meeting of the Board on 20 March 2019.

 

RESOLVED – That the public minutes and non-public summary of the meeting held on 20 March 2019 be approved as an accurate record.

 

Matters Arising

Energy Consumption- Further to a Member’s question during the last meeting of the Board the City Surveyor provided Members with an update on the issue of energy consumption within the buildings directly managed by the City of London Corporation:

KPI 2 – Energy Consumption

At the presentation of the draft 2019-24 Business Plan at Property Investment Board (PIB) on 20 March 2019, a Member queried one of the Key Performance Indicators (KPI). This item was KPI 2 – Corporate Energy Consumption. It was questioned whether it was more desirable to report on Energy Efficiency.

Although not explicitly stated within the high-level business plan, this measure is reported for the purposes of Corporate Asset Sub Committee (CASC) and not for PIB. However, it is worthwhile to respond to the Member query to explain the situation.

We have taken the opportunity to consult with the Energy Team on this point, and there are currently a number of barriers to reporting on Energy Efficiency for the entirety of our estate:

  1. Data Gaps – At the moment available information is not sufficiently granular to determine energy consumption at different sites, or elements of these sites. In order to overcome these gaps, a sub metering Gateway 1-2 report was agreed by CASC in 2018. Progress on sub-metering at Guildhall will be subject to funding availability.

 

2. Different property uses – When considering energy efficiency, building use must be considered. For instance, it would be appropriate to consider ‘KWH per workstation’ for an office environment such as the Guildhall North Wing,

 ...  view the full minutes text for item 3.

4.

Questions on matters relating to the work of the Board

Minutes:

There were no questions.

 ...  view the full minutes text for item 4.

5.

Any other business that the Chairman considers urgent

Minutes:

There was no other business.

 ...  view the full minutes text for item 5.

6.

Exclusion of the Public

MOTION – That under Section 100A(4) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part 1 of Schedule 12A of the Local Government Act.

 

 

 

 ...  view the full agenda text for item 6.

Minutes:

RESOLVED – That under Section 100A(4) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part 1 of Schedule 12A of the Local Government Act.

 

Item No.

Paragraph No.

7- 22 (excluding 14)

14

 

3

6

 

 

 ...  view the full minutes text for item 6.

7.

Non Public Minutes

To approve the non-public minutes of the Property Investment Board meeting held on 20 March 2019.

 ...  view the full agenda text for item 7.

Minutes:

RESOLVEDThat, pending corrections, the non-public minutes of the meeting held on 20 March 2019 be approved.

 ...  view the full minutes text for item 7.

8.

Action Between Meetings

Report of the Town Clerk.

 ...  view the full agenda text for item 8.

Minutes:

The Board received a report of the Town Clerk.

 

RESOLVED- That the report be noted.

 ...  view the full minutes text for item 8.

9.

City Fund, City's Estate and Bridge House Estates - Scheme of Delegations and Gateways

Report of the City Surveyor.

 ...  view the full agenda text for item 9.

Minutes:

The Board considered a report of the City Surveyor.

 

RESOLVED- That the report be agreed.

 ...  view the full minutes text for item 9.

10.

City Fund, City's Estate & Bridge House Estates - Quarterly Delegated Authorities Update - 1st January to 31st March 2019

Report of the City Surveyor.

 ...  view the full agenda text for item 10.

Minutes:

The Board received a report of the City Surveyor.

 

RESOLVED- That the report be noted.

 ...  view the full minutes text for item 10.

11.

City Fund, City's Estate, Bridge House Estates and Strategic Property Estate - Annual Valuation

Report of the City Surveyor.

 ...  view the full agenda text for item 11.

Minutes:

The Board received a report of the City Surveyor.

 

RESOLVED- That the report be noted.

 ...  view the full minutes text for item 11.

12.

Rental Forecasts Quarterly Report

Report of the City Surveyor.

 

To follow

 ...  view the full agenda text for item 12.

Minutes:

The Board received a report of the City Surveyor.

 

RESOLVED- That the report be agreed.

 ...  view the full minutes text for item 12.

13.

City’s Estate – Letting Report –Ground & Basement, 47 South Molton Street – Grant of New Lease to Hobbs Ltd

Report of the City Surveyor.

 

 ...  view the full agenda text for item 13.

Minutes:

The Board considered a report of the City Surveyor.

 

RESOLVED- That the report be agreed.

 ...  view the full minutes text for item 13.

14.

City’s Estate – 79-83 Charterhouse Street, EC1 - New 25 year lease from completion

Report of the City Surveyor.

 

To follow

 ...  view the full agenda text for item 14.

Minutes:

The Board considered a report of the City Surveyor.

 

RESOLVED- That the report be agreed.

 ...  view the full minutes text for item 14.

15.

City Fund- Fleet Street Estate - Vacant Possession

Report of the City Surveyor.

 ...  view the full agenda text for item 15.

Minutes:

The Board received a report of the City Surveyor.

 

RESOLVED-That the report be noted.

 ...  view the full minutes text for item 15.

16.

City Fund- Fleet Street Estate - Progress Report

Report of the City Surveyor.

 ...  view the full agenda text for item 16.

Minutes:

The Board received a report of the City Surveyor.

 

RESOLVED- That the report be noted.

 ...  view the full minutes text for item 16.

17.

City Fund – New Letting - 4th Floor, 21-26 Garlick Hill, EC4

Report of the City Surveyor.

 

To follow

 ...  view the full agenda text for item 17.

Minutes:

The Board considered a report of the City Surveyor.

 

RESOLVED- That the report be agreed.

 ...  view the full minutes text for item 17.

18.

City Fund - St Botolph’s Row, London EC3 -Ground Lease Extension

Report of the City Surveyor.

 

To follow

 ...  view the full agenda text for item 18.

Minutes:

The Board considered a report of the City Surveyor.

 

RESOLVED- That the report be agreed.

 ...  view the full minutes text for item 18.

19.

City’s Cash Highway Land Transfer to City Fund and Oversail - Independent Valuation – 1 Leadenhall Court EC3V 1PP

Report of the City Surveyor.

 

To follow

 ...  view the full agenda text for item 19.

Minutes:

The Board noted that the report had been deferred.

 

RESOLVED-That the report be deferred.  

 ...  view the full minutes text for item 19.

20.

Bridge House Estates Bridgemaster’s House, London, SE1 – Agreement for Lease and Lease of the Restaurant to The Real Greek

Report of the City Surveyor.

 

To follow

 ...  view the full agenda text for item 20.

Minutes:

The Board considered a report of the City Surveyor.

 

RESOLVED- That the report be agreed.

 ...  view the full minutes text for item 20.

21.

Non-Public questions on matters relating to the work of the Board

Minutes:

There were no questions.

 ...  view the full minutes text for item 21.

22.

Any other business that the Chairman considers urgent and which the Board agrees should be considered whilst the public are excluded

Minutes:

There were four items of urgent business considered in the non-public session.

 ...  view the full minutes text for item 22.