Asset management plan
The Council’s Asset Management Plan (AMP) is a key document, set out in the Constitution, to support the Council’s decision making about investment in its land and property assets to deliver its services. CIPFA (Chartered Institute of Public Finance and Accountability) guidance advises Councils to agree an AMP as part of their budget strategy, to ensure regular review of their need for property both operationally or strategically. The document therefore sits alongside the Council’s Medium Term Financial Strategy.
By its very nature, property is expensive to procure, manage and maintain, and is also inflexible in terms of responding to changing service needs, so it is important that its management is at the heart of the Council’s corporate forward planning process. Only in this way can we maximise use and efficiency of our property portfolio to support and facilitate modern and changing ways of working and hence make a long term, positive contribution to successful and economical service delivery.
The Estates Service is operationally responsible for the AMP and the property portfolio.
Whilst an AMP typically covers a five year period, the refreshed version which is currently passing through Council’s decision-making boards, is of a period of three years to allow realignment with the normal cycle of planning, and to synchronise with the end of the Council’s Carbon Management Strategy and Corporate Plan. This shorter timeframe will also allow an opportunity to reconsider the Council land and property needs once the challenging signals in the economy that affect land and property sector have settled.
When approved, the new asset management strategy will be available from here, along with previous versions of the AMP:
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Page last reviewed: 14 December 2022
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