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I'm intrigued by the amounts.
Was this the money paid for the site?
Is the build cost going to be more borrowing on top of this?
Will they try to build the permission and sell and units into this deepening recession we're in?

Is this, or part of it, to be timed to reach the market just before the 2012 Olympics?
If so will the prices raised then suddenly plummet as the realisation hits people about the underlying value fo what the're buying in terms of location?
Its Battersea - a fine area and an iconic building and site - not the West End.

Or will the boys shelve the permission, if achieved, for an indefinite period and hope the market comes back?

You see we're seen all this waffle and snake oil in Ireland and look where we are.

I'm not running it down - the two boys are adventurous Irish entrepreneurs, but any deal has to stack up going forward and some questions need to be asked.

If more people had asked more hard questions in Ireland in 2001, we wouldn't be in the mess we're in now.