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Knotweed Developments Ltd has let a shop in the Casterbridge redevelopment scheme to the House of Moray Ltd, a retailer, for 8 years at a

Knotweed Developments Ltd has let a shop in the Casterbridge redevelopment scheme to the House of Moray Ltd, a retailer, for 8 years at a rent of 675,000 per year. The yield on prime retail property of this sort in Casterbridge is 8.5 per cent. What is the value of this lease?

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