Effect of the Land Transaction Tax Rate

Part of 1. Questions to the Cabinet Secretary for Finance – in the Senedd at 2:10 pm on 10 October 2018.

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Photo of Mark Drakeford Mark Drakeford Labour 2:10, 10 October 2018

Let me give him a different example of commercial property transactions here in Cardiff in the third quarter, where, in Cardiff, the largest office tower, Capital Tower, was sold last month for £25 million. This is what the seller's agent said:

'Over recent years Cardiff has cemented its position as a major regional centre in the UK.... We capitalised on this here with more than 10 inspections of the building from potential purchasers, creating a highly competitive bidding environment which enabled the end result to be achieved.'

The highest—