Agenda and minutes

Apologies for absence were received from Mark Boleat, Robert Howard, and Dhruv Patel.

Deputy Brian Harris declared a non-pecuniary interest in any matters relating to CBRE during item 14 of the agenda.

To approve the public minutes and summary of the Property Investment Board meeting held on 16 September 2015.

RESOLVED – That the public minutes and non-public summary of the meeting held on 16 September 2015 be approved.

Joint report of the Director of Community and Children’s Services and the City Surveyor.

The Board received a joint report of the Director of Community and Children’s Services and the City Surveyor regarding the role of the City of London Corporation in increasing the supply of homes in London.

The Deputy Chairman requested that Members be updated on how the City Corporation was meeting this challenge at the next appropriate Board meeting.

RESOLVED – That the role of the City of London Corporation in increasing the supply of homes in London be noted.

Report of the Chamberlain.

The Board received a report of the Chamberlain regarding the current financial appraisal procedure guide used when undertaking financial appraisals of third party entities. Members paid particular attention to the procedures for retail and commercial leases, property developments, sales and acquisitions.

RESOLVED – That the current financial appraisal procedures be noted.

There were none.

The Town Clerk advised Members that the Chairman had received a notification of interest to become a member of the Board from a Member of the Court of Common Council not on the Investment Committee. Members were advised that there was one vacant position on the Board which could be filled by a Member of the Court through the co-option process. A report would be submitted to the next appropriate meeting if and when a request for co-opted appointment to the Board was received by the Town Clerk.

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.

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.

To approve the non-public minutes of the Property Investment Board meeting held on 16 September 2015.

RESOLVED – That the non-public minutes of the meeting held on 16 September 2015 be approved.

The Board discussed several matters arising from the non-public minutes of the previous meeting.

Report of the Town Clerk.

The Board received a report of the Town Clerk that advised Members of action taken by the Town Clerk, in consultation with the Chairman and Deputy Chairman, under delegated authority or urgency since the last meeting of the Board.

RESOLVED – That the action taken under delegated authority or urgency between meetings be noted.

Report of the City Surveyor.

The Board received a report of the City Surveyor that provided details of all property transactions approved under the City Surveyor’s delegated authority between 1 July 2015 and 30 September 2015.

RESOLVED – That the report be noted.

Report of the City Surveyor.

The Board considered a report of the City Surveyor that sought approval to the appropriation of a car park from City Fund to Bridge House Estates.

Report of the City Surveyor.

The Board considered a report of the City Surveyor that sought approval to the grant of a new lease in Bonhill Street, EC2.

Report of the City Surveyor.

The Board considered a report of the City Surveyor that sought approval to the early surrender of a lease and simultaneous grant of a new lease in New Bond Street, W1.

Report of the City Surveyor.

The Board considered a report of the City Surveyor that sought approval to a rent review of a whole building in New Bond Street, W1.

Report of the City Surveyor.

The Board considered a report of the City Surveyor that sought approval to the purchase of a headlease in Brewery Road, N7.

There were none.

The Board considered four items of urgent business.