"Susan Burchett"
<[EMAIL PROTECTED]> wrote:
>----- Original Message -----
>From: "Adrian Stott" <[EMAIL PROTECTED]>
>> 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.
>You haven't mentioned expenses. Moving isn't a cheap option.
It is a one-time cost, and usually quite small in comparison to that
saved on occupying smaller premises after the move.
> Also much of Watford was/is let to other organisations thus bringing in an
> income.
I expect BW has arranged for the leases of those organisations to
expire at about the time of the sale, so the new owner could have
vacant possession if he wants it, or renew the leases otherwise.
Either way, this adds to the price BW can get from the sale.
>As you say this will just help the property side. Where did the money come
>from to buy pubs, marinas etc?
I suspect from profit from sales of other property in the portfolio
following development.
For the income produced which can be put into waterway operations to
keep up with e.g. inflation, the value of the portfolio has to
increase to. The latter is usually achieved through development,
sale, and reinvestment in different property with a potential for
profitable development or good income.
I guess that BW is making a good income from its investments in pubs
and marinas.
Adrian
Adrian Stott
07956-299966
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