----- Original Message ----- From: "Adrian Stott" <[EMAIL PROTECTED]> To: <[email protected]> Sent: Saturday, October 07, 2006 9:57 AM Subject: [canals-list] Re: Watford
> [EMAIL PROTECTED] > <[EMAIL PROTECTED]> wrote: > >>On 6, Oct 2006, at 17:46, Julian wrote: >> >>> "Sue Burchett" <[EMAIL PROTECTED]> wrote >>> in message news:[EMAIL PROTECTED] >>>> >>>> Waterfront has the news Watford is moving to Apsley in 2008. Cost >>>> savings >>>> will be 10 million over 10 years. How many million a year does Watford >>>> cost to run? >>> >>> So you sell Watford for 30mil >>> buy Apsley for 20 mil thats a 10mil cost saving :-0 >> >>I'm not an accountant but there will one along in an hour or two. > > Will I do? I used to be a property portfolio manager for a major > occupier. > > There are several factors involved. > > First, how much floorspace do you actually need? As a result of > continuing staff reductions (not the least as a result of the reorg > Robin Evans did soon after he arrived), much of Watford has been empty > for years. BW can actually get along with much smaller head office > premises now, which allows a major instant and perpertual saving from > moving. > > Second, the Watford property is a prime redevelopment site, and worth > a lot more on that basis than in its current office use. BW should > get a good capital sum (and gain) from selling it. > > Third, as to operating costs, a new building should be much more > efficient to run, giving nice savings in operating cost / m2 over > Watford. Calculating the net present value of those savings will show > this is equivalent to another nice capital sum. > > As this is part of BW's property portfolio, I expect none of the > proceeds will be spent directly on running the waterways, but instead > will be reinvested in other property (Apsley being part of that > investment, but there should be some capital left over after that is > bought) to produce income to spend on the waterways every year. > > Adrian > > > Adrian Stott > 07956-299966 > You haven't mentioned expenses. Moving isn't a cheap option. Also much of Watford was/is let to other organisations thus bringing in an income. As you say this will just help the property side. Where did the money come from to buy pubs, marinas etc? Sue nb Nackered Navvy Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/canals-list/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/canals-list/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
