Asset management strategy

In order to prioritise the asset challenge process for our portfolio, asset categories will be initially reviewed in tranches during 2022/23 and assets will be assessed in order of Net Book Value.

This exercise will provide a baseline for the purpose and performance of our portfolio to take forward into 2023/24 and beyond. It is also likely to result in a number of assets being brought forward through stage three to six of the challenge process.

For the category of Surplus/Development assets, the challenge process will run concurrently with the above. We will continue to progress those assets already identified for development, assess the opportunities to redevelop assets/parts of assets that come to the fore through the asset challenge process and pursue opportunities for new asset acquisition that are strategically aligned to our Corporate Priorities.

Residential Housing will be considered in more detail in the Housing Investment Plan which will be presented separately for approval.

On the completion of each category review, a performance dashboard and asset action plan will be produced and reported to Members. The roles, responsibilities and monitoring of the asset challenge process and subsequent decisions are outlined in Section 7 - governance and monitoring.