The Audit Office said while the write-offs had produced a positive performance against the corporate target, the percentage of total rent collected had reduced and there were high levels of individual arrears.

BBC: Housing Executive writes off ?10m

Total occupancy cost is the sum of base rent, property tax and other operating expenses that prospective tenants would have to pay annually per square foot.

FORBES

It wants to demolish the building instead and replace it with an eight-storey modern apartment block with a total of 24 one and two-bed apartments for rent.

BBC: The Abbey Mills building (Photo: rg+p)

So the city has a total of 66, 646 taxis, all owned by companies that rent them out to drivers.

FORBES: Beijing Taxi Drivers Share Blame In Flood Aftermath