The Director of Economic Growth and Neighbourhood Services submitted a report on the Commercial Investment Strategy.  The full version of the Strategy had been considered and approved in closed session (Minute 3 above refers) and the purpose of this report was to make information available in the public domain.  An edited version of the Strategy was attached to the report at Appendix 1.

The report gave information on the current investment portfolio of four properties purchased since 2016, and summarised the approach that would be taken under the new Strategy.  It noted that the current position was to only invest in or near the Borough, but it was now proposed to make strategic investment acquisitions outside of the Borough and Greater Reading area to include the Thames Valley Berkshire LEP area, adjoining LEP areas and other locations where the investment would support the overall aims of the Strategy.  It was also proposed that the Council consider approaching other Councils or local investment institutions with a view to sharing in future acquisitions, to spread risk and facilitate larger purchases which would otherwise be beyond the Council’s available funding.

Resolved –

          That the report be noted.