Hi Kevin, You're right that the book value of the property is equal to just over $1bn. If you take a look at the FY18 accounts they also provide the fair value that has been determined by an independent valuation. In our view, the fair value gives a more accurate representation of today's market value of the property. Hope that helps!
Hi Jerome, all our LICs can hold up to 100% cash. It has been proven that holding cash offers the ‘best hedge’ during times of crisis.