The Asset Management Framework, which will be considered by Cabinet on Thursday 16 July, represents a significant step in the council's transformation to a corporate landlord model, changing the way property decisions are made across its estate. Rather than viewing land and property primarily as assets to be managed in their own right, the framework establishes a clear principle that the council's buildings and land should first and foremost support the delivery of services, strengthen communities and help achieve the council's priorities.
The framework sets out a joined-up approach to managing the council's estate, helping ensure decisions about council offices, community buildings and other land and property are made consistently, transparently and with residents' needs at their heart.
By taking a long-term view of the council's property portfolio, the framework will help ensure council assets are aligned with service needs, identify where investment is required, improve the use of existing buildings, reduce unnecessary costs and ensure the estate continues to support high-quality public services as local needs evolve.
The framework, which was developed following an independent review of the council's property portfolio by the Chartered Institute of Public Finance and Accountancy (CIPFA), reflects opportunities to strengthen strategic planning, improve governance and establish a clearer link between the council's property decisions and the services residents rely on. This also follows the council bringing the service back in-house last year and beginning the transition to a corporate landlord model to support more consistent, evidence-based decision-making across the estate.
Central to the framework is the principle that assets exist to support service delivery – by focusing on making better use of the buildings and land the council already owns, ensuring they remain fit for purpose and capable of supporting both current and future service needs.
While the framework does not determine the future of individual buildings or sites, it establishes the principles and governance that will guide future property decisions, with any proposals relating to individual sites continuing to be subject to detailed business cases, public decision-making processes and the appropriate approvals before any decisions are made on their future use or development.
The new approach will help the council to:
- ensure council assets actively support the delivery of services and corporate priorities
- make better use of existing buildings and land
- target investment where it delivers the greatest benefit for services and residents
- plan more effectively for the long-term maintenance of council assets
- strengthen corporate oversight and management of the council's property portfolio
- ensure public buildings and land continue to support frontline services, communities and the borough's long-term financial sustainability
Cabinet Member for Corporate Services, Transformation & Asset Management, Cllr Chris Moriarty, said: "This framework marks a real change in our approach to asset management. The starting point is no longer the asset itself, but the service it supports and the outcomes we want to deliver for residents.
"Our buildings and land are important because of what they enable us to do for our communities. By taking a more strategic, service-led approach, we can make sure every asset is working as hard as possible, target investment where it is needed most and ensure our estate continues to support high-quality services and deliver benefits for residents for years to come."