income generating property

171a single property or multiple properties within a single development which:

1. (1) is actually used, or is intended to be used, for residential or commercial purposes;
1. (2) is located in the United Kingdom;
1. (3) is available for occupancy or occupied by persons who have no relationship with the directors of the property holding vehicle and who pay rent at a commercial rate; and
1. (4) has been valued by an independent valuer:
   1. (a) who is a member of the Royal Institute for Chartered Surveyors; and/or
   1. (b) in accordance with the RICS Valuation Standards (The Red Book).