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Recycling capital to fund growth

The Met Building story is an excellent example of the crystallisation of value created from successful real estate investment and development. Purchased in 2003‚ the building was comprehensively refurbished and let to a wide range of business services and media tenants.We concluded the sale of the building for £107 million in September 2007 generating a post tax return on capital of 156%. The proceeds were redeployed across our business to fund the growth engines of our portfolio.