(a) Casterbridge City Council has entered into a lease with Knotweed Developments LLP to undertake the redevelopment of the town centre, including the building of new retail premises, offices, and private and social housing. It assembled the site using its powers of compulsory purchase and has let the land to Knotweed Developments for140 years at a rent of 2.5 million per annum. The yield expected from this type of investment is 2.25 per cent. What is the value of Casterbridge City Councils investment in this lease?