Agenda and minutes

Property Investment Board - Wednesday, 15th November, 2017 8.30 am, MOVED

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

Contact: John Cater  Email: john.cater@cityoflondon.gov.uk

Items
No. Item

1.

Apologies for Absence

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

Minutes:

Apologies for absence were received from Deputy Tom Sleigh, Deputy Michael Cassidy, Alderman Peter Hewitt and David Brooks Wilson.

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

2.

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

 

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

Minutes:

Alastair Moss declared a non-pecuniary interest in respect of two items in non-public Any Other Business due to him being an employee of MemeryCrystal.

 

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

3.

Minutes pdf icon PDF 307 KB

To approve the public minutes of the Property Investment Board meeting held on 11 October 2017.

 

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

Minutes:

RESOLVED – That the public minutes of the meeting held on 11 October be approved.

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

4.

City Surveyor’s Department Risk Register – 2nd Quarter Progress pdf icon PDF 94 KB

Report of the City Surveyor.

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

Additional documents:

Minutes:

Members received a quarterly update report of the City Surveyor on the City Surveyor’s Department Risk Register. The following points were made.

 

A member raised Oracle Property Management Service (OPM) as a concern. The City Surveyor confirmed that workarounds were in place and the voids report will have to wait for 6 months due to other priorities for the OPM development team.

 

The City Surveyor would report back to the Board in December on recruitment and retention (which was currently amber), the level of vacancies was currently not too bad, but the Department remains keen to retain people for the longer term.

 

RESOLVED – Members noted the Report.

 

 

 

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

5.

MIPIM Property Conference pdf icon PDF 157 KB

Report of the City Surveyor.

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

Minutes:

Members received a report from the City Surveyor.

 

RESOLVED – That Members received the report, and approved the activities and team to attend MPIM together with the total proposed budget not exceeding £98,000.

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

6.

Questions on matters relating to the work of the Board

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

Minutes:

There were no questions.

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

7.

Any other business that the Chairman considers urgent

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

Minutes:

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

8.

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 8.

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.

 

 

 

 

 

 

 

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

9.

Non Public Minutes

To approve the non-public minutes of the Property Investment Board meeting held on

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

Minutes:

RESOLVED – that the non-public minutes of the meeting held on 11th October be approved.

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

10.

City Surveyor's Department Business Plan - 2nd Quarter Progress

Report of the City Surveyor.

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

Minutes:

Members received a Report of the City Surveyor in relation to the City Surveyor’s Departmental Business Plan.

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

11.

Rental Forecasts Quarterly Monitoring Report

Report of the City Surveyor.

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

Minutes:

Members received a Report of the City Surveyor regarding the rental forecasts.

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

12.

Bridge House Estate - Letting Report - Electra House - 84 Moorgate, Rent Review

Report of the City Surveyor.

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

Minutes:

Members received a Report of the City Surveyor regarding Electra House.

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

13.

Bridge House Estate - Letting report - 1-5 London Wall Buildings - New Letting - various floors

Report of the City Surveyor.

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

Minutes:

Members received a Report of the City Surveyor regarding 1-5 London Wall.

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

14.

Bridge House Estate - Crossrail Update Report

Report of the City Surveyor.

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

Minutes:

Members received an Report of the City Surveyor regarding Crossrail subsoil acquisitions.

 

 

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

15.

City's Estate - Letting Report - 62 South Molton, Ground and Basement – Surrender and re-grant of new lease

Report of the City Surveyor.

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

Minutes:

Members received a report of the City Surveyor regarding 62 South Moulton Street.

 

 

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

16.

City's Estate - Letting Report -The Windmill Public House, Mill Street - Surrender and Regrant

Report of the City Surveyor.

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

Minutes:

Members received a report of the City Surveyor regarding the Windmill Public House, Mill Street.

 

 

 

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

17.

City’s Estate - Letting Report - New Letting Suites K&L1 East Poultry Avenue, Smithfield Market, London EC1A 9PT

Report of the City Surveyor.

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

Minutes:

Members received a report of the City Surveyor regarding East Poultry Avenue, Smithfield Market.

 

 

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

18.

City's Estate - Letting Report - 4/10 North Road, Part First Floor - New Letting to Autumnpaper Limited

Report of the City Surveyor.

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

Minutes:

Members received a Report of the City Surveyor regarding 4/10 North Road.

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

19.

City's Estate - Letting Report - 50 Gresham Street - Ground floor and basement – Rent review, variation of lease and grant of reversionary lease to Soho Coffee Shop Limited

Report of the City Surveyor.

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

Minutes:

Members received a Report of the City Surveyor regarding the 50 Gresham Street.

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

20.

City Fund/City's Estate - Queens Quay Residential Lease Extension Update

Report of the City Surveyor.

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

Minutes:

Members received a Report of the City Surveyor regarding Queens Quay.

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

21.

City's Estate - Sale of Freehold - 193 Fleet Street, EC4

Report of the City Surveyor.

 

To Follow.

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

Minutes:

Members received a Report of the City Surveyor on 193 Fleet Street.

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

22.

City Fund - Smithfield Museum Relocation

Report of the City Surveyor.

 

To Follow.

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

Minutes:

Members received a Report of the City Surveyor regarding Smithfield Museum relocation project.

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

23.

City Fund - Letting report - New Lease, 3rd floor, 6 Broad Street Place

Report of the City Surveyor.

 ...  view the full agenda text for item 23.

Minutes:

Members received a Report of the City Surveyor regarding a new lease at 6 Broad Street Place.

 ...  view the full minutes text for item 23.

24.

City Fund - Letting Report - Lease Renewal, Ground floor, New Liverpool House, 15/17 Eldon Street

Report of the City Surveyor.

 ...  view the full agenda text for item 24.

Minutes:

Members received a Report of the City Surveyor regarding New Liverpool House.

 ...  view the full minutes text for item 24.

25.

City Fund - Letting Report - Rent Review - 80/81 Fleet Street, EC4 (Retail Ground)

Report of the City Surveyor.

 ...  view the full agenda text for item 25.

Minutes:

 ...  view the full minutes text for item 25.

26.

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

 ...  view the full agenda text for item 26.

Minutes:

 ...  view the full minutes text for item 26.

27.

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

 ...  view the full agenda text for item 27.

Minutes:

There were four items under non-public Any Other Business.

 ...  view the full minutes text for item 27.