Tuesday, September 2, 2008

News: Oak values YES! Project at £21m


Even before construction work has begun, developers Oak Holdings has announced that the YES! Project in Rotherham has been valued at £21m. Following recent progress Oak commissioned HLL Humberts Leisure (HLL), to undertake a formal valuation of the company's interests in accordance with good practice. HLL considers that the value of the various interests and qualifying criteria for the proposed YES! concept, including the 27 acres of adjoining freehold access land, is £21 million. Discussions with prospective tenants are ongoing, and the Oak board expects to announce shortly further Memoranda of Understanding in respect of the YES! Project. The company intends to undertake regular valuation of its interests. The developers are also evaluating finance options and finalising a development loan following the signing of the development agreement with landowners, Rotherham Council, last month.
YES! website
RiDO website


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