From RNS 5 years ago9 May 2018 17:15
Its relevant now as this is the size of the asset with CLP the main beneficiary:
A recent appraisal of the land has been conducted by Coldwell and Banker (http://www.coldwellbanker.it) and as at 10 April 2013, the land asset was valued at EUR 47 million. However, due to the current nature of the real estate market in Italy, the Board of Mediapolis has reduced this valuation by 25 per cent. to EUR 35million. This figure has been applied to Mediapolis' audited balance sheet.
Regarding the holiday properties owned by Mediapolis in Porto Cervo, Sardinia, a similar reduction in the book valuation has been applied. This has lowered the asset's value by 39 per cent., bringing the balance sheet value in line with the outstanding mortgage on the asset. In absolute terms the new valuation, for the purposes of Mediapolis' audited balance sheet, will be EUR 5 million, down from the original investment cost of EUR 8.3 million.