Issue - meetings

Governance Arrangements for Oxford Castle Apartments Limited (OCAL)

Forward Plan Ref: 2026/127

Non-Key decision

Contact: Ian Dyson, Director of Finance and Commercial Services (Ian.Dyson@oxfordshire.gov.uk)

Report by Director of Finance and Commercial Services (CAB19)

This report seeks approval of the governance arrangements for Oxford Castle Apartments Limited (OCAL), that will become a wholly owned company of Oxfordshire County Council, as part of the Castle Quarter acquisition.

The Cabinet is RECOMMENDED to:

a) Note that the acquisition of the Oxford Castle Quarter site has now completed and that the related acquisition of Oxford Castle Apartments Limited (OCAL) for the nominal consideration of £1 will be concluded, subject to final due diligence, in August 2026.

b) Agree that the Council will exercise its shareholder function through the Shareholder Committee, consistent with existing arrangements for council-owned companies.

c) Delegate authority to the Deputy Chief Executive (S151 Officer), in consultation with the Director of Law and Governance and Monitoring Officer, and the Cabinet Member for Finance, Property and Transformation, to:

· approve the Articles of Association; and

· appoint the initial Company Directors,

with these decisions to be ratified by the Shareholder Committee at its earliest available meeting.

Minutes:

Cabinet had before it a report which detailed the completion of the acquisition of Oxford Castle Quarter and the planned acquisition of Oxford Castle Apartments Limited (OCAL) as a wholly owned subsidiary of the Council. It outlined the governance arrangements and legal requirements for OCAL, a special purpose vehicle holding residential leasehold interests.

Councillor Dan Levy, Cabinet Member for Finance, Property and Transformation, presented the report.

Councillor Levy moved and Councillor Leffman seconded the recommendations and they were approved.

RESOLVED to:-