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Old 13th Jun 2021, 12:10
  #580 (permalink)  
WHBM
 
Join Date: Oct 2002
Location: London UK
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Quite apart from Covid, that LCY sale is felt to have been way overvalued. Dermot Desmond, who bought it as a little-used basketcase from Mowlem for about £75m (mainly the land value) and sold it for 10 times that in more recent times having invested so much extra money, time and effort into it, must have laughed that supposedly professional overseas pension funds and their valuation advisers etc were so gullible in subsequently trading it among each other. I don't think LCY, just 11 departures today, can be worth even a tenth of that now. I wonder how the auditors will lose that capital loss in the various owners' accounts.
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