At current prices, that would give the Cononish project a rate of return of about 37% before tax and see the initial investment repaid within 26 months of the start of production.

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When you invest in a project your primary concern is that your rate of return exceed the rate of interest that you are paying.

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In turn, that lower interest rate should help Kilroy realize a return on the project of about 7%, better than the below-5% return that many investors are getting by acquiring existing buildings.

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