This report seeks Policy Committee approval for the closure of Reading Hampshire Property Partnership Lts following the completion of its strategic objectives and the Council's revised approach to property service delivery.

The Committee considered a report outlining the proposal to formally close Reading Hampshire Property Partnership Ltd (RHPP), a joint venture between Reading Borough Council and Hampshire County Council established in 2014 to deliver professional property services.

The report explained that Hampshire County Council had served notice to terminate the Service Contract, citing an inability to continue supplying the necessary capacity to Reading Borough Council. As a result, the Council had sought alternative suppliers to meet its property service needs. All outstanding projects and contractual obligations were being completed, and the closure process was expected to commence following the approval of final accounts and a Board resolution.

The Committee noted that RHPP had successfully delivered a range of capital projects, including education infrastructure, decarbonisation programmes, and building improvement works. The closure of the Company would be managed in accordance with legal requirements, including the Companies Act 2006 and the Company’s Articles of Association.

Resolved –

(1)  That Reading Hampshire Property Partnership Ltd is no longer required to meet the Council’s property service needs, be noted;

(2)  That the Committee, acting as 49% shareholder of Reading Hampshire Property Partnership Ltd, approves the closure of the Company following completion of all outstanding projects and contractual obligations;

(3)  That the Assistant Director for Legal and Democratic Services be authorised to act as the shareholder representative with full authority to approve the Board resolution for the formal closure of Reading Hampshire Property Partnership Ltd and to deal with all miscellaneous and consequential matters;

(4)  That the closure process will commence following the Board resolution and completion of final accounts, with formal dissolution expected in summer 2025, be noted.