To consider a joint report of the Executive Members for Investment and for Corporate Resources, and of the Chief Finance Officer.

That the Real Estate Investment Strategy set out at Appendix 1 to the report be approved and adopted.

The Executive Members for Investment and for Corporate Resources, and the Chief Finance Officer, submitted a joint report presenting for approval a detailed Real Estate Investment Strategy which would assist the Council in creating a balanced portfolio of investment assets. An opportunity was provided for Members to raise questions regarding the strategy, and these centred on the distinction between the net and gross rates of return on investments.

RESOLVED - That the Real Estate Investment Strategy set out at Appendix 1 to the report be approved and adopted.