Asset management strategy

It is appropriate that the council regularly reviews the assets within its portfolio to ensure they remain fit for purpose and aligned to our corporate priorities and objectives. In order to do this we have developed an asset challenge process which is set out in Appendix 1.

The asset challenge process is divided into two phases; an annual review of the purpose and performance of an asset and then the process for evaluating any decisions relating to an asset.

The implementation of this process will enable an asset owner to make informed choices about the future of assets in a structured and objective fashion. The process can be applied to all relevant assets in the councils portfolio using the guidance set out over the next few pages.

Stage 1: Strategic Fit and Purpose

In order to assist asset holders in this analysis, the expectations of how each category of asset should contribute and support our corporate priorities outlines in the corporate plan is outlined below. This is by no means a comprehensive analysis but should be used as a guide to assist judgements in the challenge process.

Operational assets

Supporting the following corporate priorities:

• Town and public space improvements
• Carbon net zero by 2030
• Building housing and communities
• Delivery of services

Communtiy assets

Supporting the following corporate priorities:

• Building housing and communities
• Delivery of services

Investments assets

Supporting the following corporate priorities:

• Cyber capital of the UK
• Town and public space improvements
• Building housing and communities

Residential housing assets

Supporting the following corporate priorities:

• Carbon net zero by 2030
• Building housing and communities
• Delivery of services

Surplus/development assets

Supporting the following corporate priorities:

• Cyber capital of the UK
• Town and public space improvements
• Building housing and communities

Other assets

Supporting the following corporate priorities:

• Cyber capital of the UK
• Town and public space improvements
• Carbon net zero by 2030
• Building housing and communities

In making the assessment, the following should be considered when assessing the alignment of the asset purpose against our corporate priorities. Whether the asset:

• facilitates economic growth and recovery;
• helps to meet our housing needs, including contributing to our housing strategy;
• creates commercial space that supports our key employment sectors;
• stimulates a positive climate for inward investment into Cheltenham;
• delivers sustainable and future proofed infrastructure;
• responds to market failure;
• improves and drives quality and innovation of our public realm; and
• delivers on our climate and environmental commitments and approach to social value outcome

Stage 2: Performance of the Asset

The financial and non-financial performance of an asset will vary depending on the category and strategic purpose of the asset. When considering an asset assessment, the key performance areas outlined below should be considered as a minimum.

No threshold criteria has been set for whether an asset is performing strongly or otherwise. The parameters for a strongly performing asset will differ depending on its category, use and condition. Stage one and two should be used to determine whether there is scope in an asset category to identify whether there are opportunities for improvement and/or to do something different.