Directors head for the exit after council confirms company review
A quartet of directors at the RBWM Property Company have resigned after the council confirmed it is reviewing the future of the operation.
The company is wholly owned by Windsor and Maidenhead council and its responsibilities include managing regeneration projects across the borough.
The property management and consultancy firm is also focused on delivering affordable housing on council-owned sites.
The Lib Dem-run council faced questions during a cabinet meeting on Tuesday over why there had been a flurry of resignations from the company.
Documents on Companies House show Nicholas Young, John Barr, Jonathan Monnickendam and Griffith Marshalsay all stepped down from their positions on February 13.
Clewer and Dedworth East councillor Helen Price told Tuesday’s cabinet meeting: “Last week four RBWM Property Company directors resigned on the same day. Many councillors and residents are really concerned about what deals have been done with developers.”
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Independents councillor also referenced the shock among residents when it was revealed in 2022 that the council had agreed to sell the Magnet Leisure Centre site to Countryside Properties for nearly £11million less than its original £26.68million valuation.
Council leader Simon Werner responded at the meeting: “We’ve been clear we’re looking at all services to determine whether the current delivery model is the right one.
“That’s something we have to do given all the pressures we face, we’re not going to make any apologies for that.
“It’s in that context we’ll be reviewing the Property Company and the service it provides.
“Although no decisions have been made about future approach.
“We’ve taken some steps recently to strengthen council oversight of the Property Company.
“The board’s reaction is disappointing but ultimately it is their decision and we thank them for the work they’ve done.”
A Royal Borough spokesman added that a new interim Property Company Board has now been installed.