Investors offered stake in E&Y head office
Becket House, the Central London head office of Ernst & Young, is being offered up as a reliable investment opportunity for anyone with a spare £25,000.
Link: Budget 2004
According to citywire.co.uk, investors are being offered a £25,000 investment in the £76m property situated on Lambeth Palace Road opposite the Houses of Parliament.
The opportunity should be an attractive one for investors, with 84% of the rent guaranteed by the government until 2014.
And investors who hold on for two years will pay no stamp duty or land tax and will pay only 10% capital gains tax on profits, as they will qualify for business asset taper relief, under rules introduced into the legislation on 6 April 2004.
Charles Fry, director of Pinder Fry & Benjamin, which is offering the property, says the partnership offers ‘highly advantageous CGT tax benefits’.