Has to be market value so unless the value of the asset has increased notably since it was last valued then it doesn’t add to turnover because you lose the asset value in your books.
chelsea did well with their hotel because it increased £70m since it was last valued. Not sure re the training ground. There wouldn’t be any guarantee that planning would be granted for housing (which would really increase the value of the land).
in our situation, I’d expect seagrave to be in the books at cost
belvoir drive ?