Colin Beard ends his letter (October 5) by asking if someone can explain how Karis can proceed with the development on the basis of the figures given in his letter.
The answer is, of course, that one can't evaluate a scheme by figures given in a publicity brochure.
The promoters - Karis and ING Estate - are professional people who know all the "ins and outs" of property development and would not waste a considerable amount of time and money unless they were certain that the scheme looked profitable.
There are many elements of the scheme that will produce a rental flow over the years to come and, as rents increase, capital appreciation will result.
Consider the rental income from the 100 flats let to people from the council's housing waiting list, the rental income from flat ground rents, from the retail and cafe elements and future capital appreciation from the 50 per cent remaining when 182 flats are sold on a shared ownership basis.
-John Mepham, Brighton
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