Although the finer details of the council’s quarterly reporting of its property investments were held in private, things are looking good.
EXEMPT PROPERTY INVESTMENT QUARTERLY REPORT
Officer Candice Keet recently introduced a report to the Overview & Scrutiny Committee, noting that there had been no significant changes since the last update to its contents since the previous report.
However, she highlighted that the yield on the authority’s property investments was over 5%, with a 1.9 million income stream, and the overall target for the yield was 5.83%.
Councillor Davidson commented on renting in Farnham and sought further information on when there will be an opening for renewal. He also felt the yield could be improved and that officers should seek contracts with higher yields in the areas where they were particularly low.
What is the “5% yield “ based on? Is it income as % of a recent valuation or is it based on historic cost? What increase or decrease has there been in the total valuation of the Council’s properties (excluding purchases) over the last few years?
Good luck trying to get figures that make any logical sense from the LibDems. “He also felt the yield could be improved and that officers should seek contracts with higher yields in the areas where they were particularly low.” Such insight lol