ORE-STEM COMPLEX : Development Cost Analysis
As the complex will be multi-sector industrial and business consisting of the most advanced technological buildings in the world a comparison is made with the present cost of global office rents in the emerging market areas of the world. When viewed by the market standards of Mumbai (Bombay) at £99 per sq ft the ORE's costed rate of £40 per sq ft looks under valued. Even at this comparatively modest rate after interest/loan repayments and less operational cost the projected pre-tax surplus for the first 'full' years contributions is calculated at £1.2 billion. As loan facilities diminish over the years and rents are increased in line with inflation and market rates the ORE's pre-tax surpluses will increase significantly above the £1.2 billion produced initially by the complex.
Council Member News
Stuart Jeffrey Randall previous Member of Parliament for Kingston-Upon-Hull West has been honoured with a life peerage. We wish Lord Randall well for his future commitments in the House of Lords.
New Executive Council Members
Prof.Dr.Dr.h.c.mult.John Argyris, FEng, FRS
Professor Argyris is the director of the Institute of Computer Application at Stuttgart University and a leading world authority in advanced materials used for and in the design of aeronautics. He sits on the High Performance Advisory committee of the EC CERN at Geneva and many other influential groups. Prof. Argyris is an Hon. FRAeS and an Hon. FCGI and holds membership of many international scientific and professional institutions. He was honoured with the Royal Medal in 1995 (awarded by H.M. the Queen and the Royal Society, London). Professor Argyris has been honoured throughout the world with many gold medals and higher Doctorates for his eminent work.
Ronald Ashford, ESQ, CBE,CEng, FIMechE, FRAeS
Mr Ashford is a leading world figure in aviation safety. Amongst his senior appointments has been the Dir-Gen, Airworthiness Group Director Safety Regulations, Board Member, and Secretary General European Joint Aviation Authorities. Mr Ashford has been honoured with many international awards including the Wakefield Gold Medal, Hodgson Prize, RAeS Distinguished Service Award Flight Safety Foundation, the Award for Distinguished Service US Federal Aviation Administration and the Cumberbatch Trophy, GAPAN.
Professor Sir James Baddiley Kt.,M.A.,Ph.D.,D.Sc.,Sc.D.,F.R.S.E.,F.R.S.
Sir James is an acknowledged authority on Coenzymes, the structure of COA, bacterial cell walls and membranes and discoverer of teichoic acids. He is the Vice-President of the Alzheimer's Research Trust and a trustee of the EPA Cephalosporin Fund. Sir James is a past council member of the Royal Society and SERC and the recipient of many honours and decorations for his services to the science and technology of chemical microbiology.
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