The Portfolio Holder for Business and Economic Growth presented the report of the Executive Manager – Transformation providing an update on the Moorbridge Road Industrial Units.

It is RESOLVED that:

a)           the Council does not proceed with the purchase of new industrial units at Moorbridge Road, Bingham given the increasing cost and adverse impact on the rate of return; and

b)           the Council keeps any future opportunities to buy new industrial units at Moorbridge Road, Bingham under review, to be considered by the Asset Investment Group if the acquisition meets the appropriate investment criteria and thereafter approval be sought by Cabinet.