Agenda item

Report of the Superintendent of the Commons.

The Committee received the Operational Property Review which was

taking a more strategic view of the operational assets of the City of London

Corporation. Members noted that its aim was to identify opportunities to rationalise the Corporation’s operational property portfolio and reduce the high and rising cost of property.

In response to a query regarding the selling or renting or property, Members were informed that Standing Orders require Committees to declare surplus any facilities not required for operational use. Farthing Downs Office had been highlighted as

underutilised or surplus to requirement and sets out options and recommendations for its long-term use or disposal.

Resolved – that Members agreed:

1. The Farthing Downs Office be declared surplus to the Open Spaces

Department’s requirements and be presented to Corporate Asset Sub

Committee. Further, it is agreed that the Corporate Asset Sub Committee be requested to declare Farthing Downs Office as surplus to the City of London Corporation’s requirements.