Investment Board Independent Member

Remuneration: £550.68 per annum to include expenses

Central Government funding for local authorities has been reducing for many years. Councils such as Uttlesford are in the position where they need to generate additional income from a variety of sources, including commercial property investment.

In 2017 the Council, through a wholly owned subsidiary, acquired a 50% share in Chesterford Research Park (CRP) in a joint venture partnership with Aviva Life and Pensions. This venture has proved extremely successful with a significant revenue receipt being received by the Council each year (approximately £2.7 million per annum).

Between 2020 and 2022 the Council acquired a further six commercial investments and the Portfolio now has a value of £270 million.

In 2019 the Council established an Investment Board to guide and steer it through its acquisition process and to monitor the performance of its commercial portfolio. The Board is made up of elected councillors. The income raised from existing and future investments will be used to fully support the services currently provided by the Council to its residents.

The Government's position on commercial investments by local authorities has changed and now it is about maintaining and reviewing our assets and recommending sales when it is deemed appropriate to do so.

As an Independent Member of the Investment Board, we are looking for people who will add to the strengths of the existing Board members, and support and challenge the Council as it maintains its asset portfolio. Experience of property investment is required, preferably as part of a business background, and probably at board level.

The Board meets formerly four times per annum; however there may also be the need for ad hoc meetings as asset opportunities arise. Typically, meetings will be held in-person either at Saffron Walden or Little Canfield, although the Board can meet remotely if necessary.

For an informal discussion please contact Adrian Webb, Strategic Director of Finance, Commercialisation and Corporate Services on 01799 510421 or by email awebb@uttlesford.gov.uk

To apply please send your CV and a supporting statement setting out why you would like the role and what strengths you would bring to the Investment Board to hradmin@uttlesford.gov.uk

We reserve the right to close this vacancy once a sufficient number of applications have been received.

Uttlesford District Council is an inclusive employer and we welcome applications from all. We are proud to be a Disability Confident Employer and proud to support our Care Leavers and the Armed Forces Covenant.  Anyone disclosing a disability, or is a Care leaver or is a member of the Armed Forces community (Veteran/Service leaver, Reserve Forces, or their Spouses/Partners or Cadet Force Adult Volunteer) whose application meets the essential criteria for the post will be guaranteed an interview.