Rooke and Elderly Residential Care

um because it's now falling to the taxpayer to pay for this building which was not the original intention so we asked you at the press call when you announced the opening of the building uh that it had cost 38 million pounds plus i'm not sure how much you said for the refit uh but but 38 million and and you said it And when I said, well, that was a figure from two years ago, you said, yes, it's pretty much the same now.

Can you just explain to us how can it be two years later, you know, work towards opening that building, how the construction cost is still £38 million? Because the projected construction cost

was £38 million at the time.

So in most construction projects, you will have the projected construction costs very early on.

So it was known that the construction costs of the building would have been £38 million.

OK, but what about all the snagging and all the changing bits to fit other bits? But this is exactly the

same as every other development.

So what ordinarily happens, and it's not different in this development, is that the contractor will finish the building and the developer will go and look at the snagging, but all the snagging faults are fixed by the contractor themselves.

himself because the building has to be has to be delivered as a completed building so snagging costs and all these sorts of things wouldn't ordinarily fall to a developer to pay for it because it is part of the contract price okay so let me ask you how much is the GHA going to purchase this building for So we're currently getting a valuation for the building.

But as I said, the building costs were circa 38 million.

The fit-out costs were roughly 3 million.

And again, this is something that can be itemized because we have, you know, the cost of the beds, the cost of the...

So 41 million altogether, let's say.

Plus the interest on the facility.

Okay.

So it's the interest and the cost of the land.

So this is what the GHA will be paying, the construction costs, the fit-out costs, the interest and the cost of the land.

When you

say the interest, do you mean over the past three years? I mean the interest over the course of the

project.

So

as they've been drawing down to pay, the interest costs will be paid.

Sorry, if you don't mind, a couple more questions.

So this building belongs to Rook Holdings at the moment.

Yes.