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outlawauron on 28 February 2013
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kowenicki said:
VGhippy said:
I know people keep saying this is just a one-off, but more will be saved in the long run as they will save on maintenance and staffing costs of such a large building. They will probably save about a million/yr alone on contract cleaners.


Which is absolute peanuts.

This is much bigger than that.  It is about converting an asset to working capital to ease cahflow, negate losses and for other ventures.    In any event they will now have a huge rent bill to offset those savings you listed.

Are you certain they're maintaining everyone in that building? I suppose there are some savings switching from owning and managing to renting, but you'd they would be transitioning out of it.



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