1. Property Board: Proposed Projects
The following items are an indicative list of projects and outputs that will be delivered from the Property Board – they exclude items already committed within current savings proposals
Board Lead
2017/18
2018/19
2019/20
Notes
Items previously approved or able to proceed with no further approvals
Rental income stretch target
Annual 5% increase in rent roll (excluding Purfleet Centre)
Matthew Essex/
Michelle Thompson
£50k
£50k increase year on year.
Further letting income – CO1 (rent and service charge)
£100k
Allow for slow build up of occupation. Figure shown includes rent and s/c.
Further letting income – Thameside Centre (rent and service charge)
£30k
Building likely to close in following year. Letting income potentially limited by nature of space.
Known Saving – loss of Corringham Police Station Rent/Bus Rates etc
Children’s Services
Saving will fall in first year and not be repeated. Likely to be accrued within Children’s Services
Review of Sports Club Leasing Arrangements
Michelle Thompson/Beau Stanford-Francis
To be determined based upon outcome of review
Existing arrangements see Council subsidising sports clubs through provision of loss leading grounds maintenance services etc.
Corporate Landlord – Saving/Efficiency Target (10% reduction in running costs)
£25k
Corporate Landlord programme is underway . Libraries have transferred already and Children’s estate now being audited. Savings and income opportunities highly likely but cannot be accurately quantified until estate is better understood. ESTIMATE ONLY
Corporate Landlord – Additional income target

2. Property Board: Proposed Projects
The following items are an indicative list of projects and outputs that will be delivered from the Property Board – they exclude items already committed within current savings proposals
Board Lead
2017/18
2018/19
2019/20
Notes
Potential items that would require further approvals to proceed
Buyout of Bilfinger Contract
Sean Clark/
Michelle Thompson
£175k
Annual OHP amount. Requires buy out of contract at cost of c.£500k (assuming notice given). Potential for further savings depending on restructuring of service
Development opportunities – Thurrock Parkway
Matthew Essex/
Stephen Taylor
£1.5m
c. £15m capital investment needed to create to create something of the order of 160,000sqft of lettable space. Rent roll c.£1.5m pa. Lead time is for construction and letting
Development opportunities – Mileham’s Yard
Matthew Essex/Michele Thompson/Stephen Taylor
£1.1m
Acquisition (£2.5m) and development (£10m) of site created about 110,000sqft of lettable space. Rent roll of c.£1.1m. Lead time is for construction and letting
Development opportunities – Gloriana schemes
Matthew Essex/ Helen McCabe
To be investigated, assessed and quantified
Development of various Council owned sites through Gloriana generating a revenue stream back into the Council
TOTAL
£405K
£275K
£2.8M

3. Property Board: Proposed Projects
The following items are an indicative list of projects and outputs that will be delivered from the Property Board – they exclude items already committed within current savings proposals
Board Lead
2017/18
2018/19
2019/20
Notes
Savings already banked but potentially not fully realised
Known Saving – closure of Culver Centre
Children’s Services
£120k
Saving likely to be accrued within Children’s Services
Potential Capital receipts
Known sales – Smurfit Kappa (sale price £1.8m, minus deposit and demolition cost)
Matthew Essex/
Michelle Thompson
c.£1.5m
HoTs agreed on sale for secondary school site. Deposit likely to be received in 2016/17 with balance to follow.
Known sales – Dell Rd/Orsett (estimated based on current discussions)
c.£1.3m
Principle of sale agreed and completion targeted within 2017/18. Figure allows for reduction in agreed price owing to abnormals