The party of business, again
Anyone remember this post from March last year? The Tories somehow managed to swing a deal on the freehold of their HQ in Smith Square that would have left them paying a yield of 6.42% to the buyer, a £2.2m hit to cashflow. I had originally had the impression that the deal had been suspiciously profitable, but it turned out that the Tories lost on it.
Anyway, since then, there has been some more hot, filthy, frenzied property action down in SW1. And, it turns out, Minitrue has news. Specifically, the property wasn’t bought, but a mysterious British Virgin Islands entity which owned it was. The sale netted precisely the £30m Jonathan Marsland said it would, but this company has been kept in existence despite the sale of its only assets. Funny that.