The aim of the Asset Management Policy is to establish clear principles by which we will manage its land and buildings. It will remain in place for the next 5 years but will be reviewed annually to ensure it is still relevant to what it is trying to achieve. This policy identifies seven principles that set out our approach to asset management and guide future decision making through processes that will enable delivery at pace.

Principles

1. Embed a Corporate Landlord model, to drive the rationalisation and consolidation of the asset estate, and corporate asset decision making based on 3-5 year service requirement strategies.
2. Consolidate operational assets to decrease the number of single-use assets, reduce revenue costs and create multi-functional property, which is fit for purpose, in the right place and supporting service improvement.
3. Work towards creating a carbon neutral estate by 2030.
4. Rationalise the asset base by reviewing all non-operational and surplus assets to identify opportunities to create or increase revenue income, provide investment opportunities or deliver capital receipts to stimulate development and growth.
5. Use our land and buildings to encourage development and growth, supporting local business needs and encouraging new business to Torbay.
6. Develop a robust asset management plan to invest properly in all retained assets, to ensure they are fit for the future in supporting excellent service delivery.
7. To work collaboratively and promote joint working between Torbay Council, Brixham Town Council, Health and blue light authorities and other Voluntary, Community and Faith Sector organisations to identify wider opportunities to benefit the community.

Our Objective

Our objective is to be one of the leading public sector organisations for property asset management and development.  To achieve this, we will adopt the seven principles set out above.  The principles describe the Council’s commitment to property asset management and will ensure we deliver an effective and efficient service that will allow us to manage, maintain and develop our property and land portfolio.

Applying the Principles

Embed a Corporate Landlord model, to drive the rationalisation and consolidation of the asset estate, and corporate asset decision making based on 3–5-year service property requirement strategies.

• Provide clear corporate decision making and challenge on all property matters
• Property is integrated with other resources in a clear decision-making framework
• Costs are minimised through the delivery of economies of scale and use or return from assets is maximised
• Ensure service areas are adequately accommodated with an appropriate operational estate if so required
• Assets are maintained and managed in accordance with corporate strategic priorities and relevant property and health & safety legislation

Consolidate operational assets to decrease the number of single-use assets, reduce revenue costs and create multi-functional property, which is fit for purpose, in the right place and supporting service improvement.

• Ensure retained property is suitable and sufficient for service delivery
• Ensure retained property is flexible, agile and able to respond to future need, whether cultural and all behavioural
• Work with service areas and partners to understand longer term requirements
• Engage with community groups and external stakeholders to identify improved service delivery options
• Ensure retained assets are secure, safe, and meet all statutory requirements

Work towards creating a carbon neutral estate by 2030.

• Develop actions through the Carbon Neutral Council Action Plan (ready for delivery in 2022) to understand how our operational operation estate will transition towards carbon neutral for 2030.
• Ensure that asset management remains high on the agenda for the Council’s Carbon Neutral Officers’ Group chaired by Assistant Director of Planning, Housing and Climate Emergency.
• Aim to reduce energy and water consumption and CO₂ emissions, through the active management of the estate and by minimising energy and water use, using low carbon heat and renewable power where appropriate and in line with the ever-tightening net zero national policy.
• Develop oven ready projects so the Council can lever in funding to support the decarbonisation of our estate.
• Review Council assets in relation to climate change and environmental implications, improving EPC ratings across the leased estate in line with government and our own carbon neutral targets.
• As soon as possible, establish robust energy and water consumption data for the Council’s operational estate to contribute to the Council’s carbon footprint.
• Adopt Green lease provisions

Rationalise the asset base by reviewing all non-operational and surplus assets to identify opportunities to create or increase revenue income, provide investment opportunities or deliver capital receipts to stimulate development and growth.

• We will challenge the current use of assets and identify underutilised space to maximise commercial activities
• Look to allocate funds to projects that will achieve the maximum positive impact
• We will seek efficiencies in occupation and utilisation
• Identify opportunities for direct investment in existing assets to enhance income
• Identify and create a disposal programme of under-performing assets i.e., low return, non-strategic assets which do not enhance the Council’s ability to provide outstanding services or meet wider strategic objectives

Use our land and buildings to encourage development and growth, supporting local business needs and encouraging new business to Torbay.

• Work with TDA to use key assets to stimulate and support regeneration and inward investment
• Continue to utilise the Growth Fund for investment to create local employment and training opportunities
• Manage the Council’s Investment Portfolio and Let Estate effectively, balancing regeneration needs, job creation and income generation
• Continue to access funding opportunities to promote and encourage the improvement in the physical environment of our three town centres

Develop a robust asset management plan to invest properly in all corporate assets, to ensure they are fit for the future in supporting excellent service delivery.

• Challenge cost of property activities to drive performance
• Work with Climate Emergency Officers to ensure that properties are as sustainable as possible in their design, construction, operation and maintenance and aligned to meeting the carbon neutral 20230 target.
• Reduce energy and water consumption and reduce carbon emissions wherever possible.
• Undertake a whole life cycle costing exercise for each corporate asset to understand the maintenance of a property over its lifetime to understand the long-term costs of projects not just the initial capital costs.
• Review asset related feasibility and options appraisals across all service departments once their business models/plans are finalised

To work collaboratively and promote joint working between Torbay Council, Brixham Town Council, Health and blue light authorities and other Voluntary, Community and Faith Sector organisations to identify wider opportunities to benefit the community within the context of asset strategy and planning.

• Work with other agencies to promote co-location and joint service delivery.
• Work to support the ongoing integration of health and social care.
• Continue partnership working through the government’s One Public Estate programme, to explore options for improved service delivery for public sector bodies in Torbay and across South Devon.
• Encourage the use of assets by the Voluntary, Community and Faith Sectors through Community Asset Transfer opportunities.

Where appropriate we will adopt and embed the Corporate Landlord model to drive asset related decision making. Based on prepared service property strategies for the coming 3-5 years, decisions will be made on the viability and feasibility of sites guided by the above principles, and using the process and criteria set out below.