Reference 
to notes

Total

Year

0

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

Option 1 Do minimum – refurbish
Property/capital costs

1

Rent received (nominal terms)

0.0

30.0

60.0

60.0

60.0

60.0

67.1

67.1

67.1

67.1

67.1

75.9

75.9

75.9

75.9

75.9

2&3

Rent received (real terms - year 0 prices)

0.0

29.6

57.8

56.4

55.0

53.7

58.5

57.1

55.7

54.4

53.0

58.5

57.1

55.7

54.4

53.0

4

Site value

-3,500

3,200

5

Refurbishment costs

-1,000

-500

6

Running costs

Rates (real terms)

-103

-105

-108

-110

-113

-116

-119

-122

-125

-128

-131

-134

-138

-141

-145

Maintenance/ repairs

-30

-30

-30

-30

-30

-30

-30

-30

-30

-30

-30

-30

-30

-30

-30

7

Utilities/other

75

-100

-100

-100

-100

-100

-100

-100

-100

-100

-100

-100

-100

-100

-100

8

Costs of holidng Crown Building vacant

-295

-290

-286

-281

-277

0

0

0

0

0

0

0

0

0

0

9

Tenants' service charge contribution Business costs

12

12

12

12

12

12

12

12

12

12

12

12

12

12

12

Business travel and courier costs

-130

-130

-130

-130

-130

-130

-130

-130

-130

-130

-130

-130

-130

-130

-130

CASHFLOW

-4,500

-441

-585

-585

-584

-584

-305

-310

-314

-319

-823

-238

-325

-330

-335

2,860

10

Net present cost @ 3.5%

-7,692

-4,500

-433

-556

-537

-518

-501

-253

-248

-243

-238

-594

-166

-219

-215

-211

1.737

Option 2 New City Centre Block
Property/capital costs

11

Rent paid (nominal terms)

-180

-240

-240

-240

-240

-313

-313

-313

-313

-313

-354

-354

-354

-354

-354

11 & 12

Rent paid (real terms - year 0 prices) 

-178

-231

-226

-220

-215

-273

-266

-260

-254

-247

-273

-266

-260

-254

-247

Fitting out, telecoms, removals

-250

13

Tenants' compensation 

-120

Dilapidations on lease expiry 

Running costs

-250

Rates

-128

-131

-135

-138

-141

-145

-149

-152

-156

-160

-164

-168

-172

-177

-181

Maintenance/repairs

-20

-20

-20

-20

-20

-20

-20

-20

-20

-20

-20

-20

-20

-20

-20

Utilities/other (cleaning/security)

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

Costs of holiding Crown Building 
vacant Business costs

-295

-290

-286

-281

-277

0

0

0

0

0

0

0

0

0

0

Business travel and courier costs

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

CASHFLOW

-370

-796

-848

-841

-834

-828

-613

-610

-607

-605

-602

-632

-629

-627

-625

-873

Net present cost @ 3.5%

-8,732

-370

-782

-805

-772

-739

-709

-507

-488

-469

-451

-434

-440

-424

-408

-393

-530

Option 3 Reuse Crown Building

Property/capital costs

-200

-200

-200

-200

-200

-261

-261

261

-261

-261

-295

295

295

295

295

11

Rent paid (nominal terms)

11 & 12

Rent paid (real terms - year 0 prices) 

-198

-193

-188

-183

-179

-228

-222

-217

-211

-206

-228

222

217

211

206

Fitting out, telecoms, removals

-750

13

Tenants' compensation 

-120

Dilapidations on lease expiry 

Running costs

-250

Rates

-103

-105

-108

-110

-113

-116

-119

-122

-125

-128

-131

-134

-138

-141

-145

Maintenance/repairs

-25

-25

-25

-25

-25

-25

-25

-25

-25

-25

-25

-25

-25

-25

-25

Utilities/other (cleaning/security) 

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

-85

Business costs

Business travel and courier costs

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

-90

CASHFLOW

-870

-500

-498

-496

-494

-492

-543

-541

-538

-536

-534

-559

-113

-121

-130

-389

Net present cost @ 3.5%

-6,094

-870

-492

-473

-455

-438

-422

-450

-432

-416

-400

-385

-389

-76

-79

-82

236

0

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15