SO17350: New Property Model – Additional Charging Mechanism Work

Deloitte to carry out further works on the charging options for the New Property model: • Materiality – re-run to the “real department” analysis of the Shareholder Dividend model based on small departments with a big rent charge and differential rates of reductions (based on the office asset class) • Repeat the analysis on slides 26 and 27 for storage (based on UK rental averages for storage) • Amalgamated asset class SD model – showing the impact of release of some big non-office assets on small departments.