Offices will have standard repairing leases and land values are high

and the refits of the offices will have been paid for by the respective organisations that lease them.

It's therefore hard to imagine what the £1.23m on office fit outs represents. My guess would be that some of this is initial capital outlay on the lifts, entrance etc. But that doesn't quite add up so I reckon that some of this must be a reapportionment of the capital costs of the stand.

Also the land values have to be considered as future income. They've got outline permission for just under 400 dwellings on the one site and are looking for around another hundred. Land values in the City have been going lately recently from £40-£100k per plot so gives a value of £20-50m.

Posted By: Kangol Canary, Oct 15, 22:32:32