This report seeks approval for the establishment of a subsidiary company by Warwickshire Property and Development Group Limited (WPDG) that would operate as a commercial and residential development company.

Portfolio Holder – Councillor Peter Butlin

Councillor Peter Butlin (Deputy Leader of the Council) introduced this report which bore similarities to the Cabinet report presented in January 2022 which sought permission to establish the WPDG Management Company subsidiary. This report sought approval to set up the Commercial and Residential Development Company subsidiary to WPDG by April 2022. This provided a tax efficient operating structure for WPDG and only required a small amount of officer time to support the formal establishment of the new subsidiary company.

Resolved

That Cabinet:

1.        Approves the establishment of a subsidiary company by Warwickshire Property and Development Group Limited (WPDG) to operate as a commercial and residential development company.

2.        Authorises the Strategic Director for Resources to take any steps he considers necessary to implement the above approval.