The refurbishment starts next year and will be paid for with money from the trust's own budget, surplus land sales and government funding.

BBC: Broadmoor

The council had hoped to meet these costs by creating a company to sell surplus property and land.

BBC: Downturn squeezes council budget

Faced with a surplus supply, local land departments still urge developers to launch new projects, the magazine observes.

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He formed the Housing Partnership in 1982 to work with public agencies and private developers on middle-income housing, mostly on surplus city-owned land.

WSJ: Banking on New Role

Think back 200 years, when 80% of the people had to work on the land to produce the surplus food to feed the other 20% who did everything that was not agriculture.

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The invention of agriculture, which generates a surplus that can be stored and also gives value to land, permitted this to change.

ECONOMIST: Your parents were right. Patience is a virtue