Two Bilton estates `worth pounds 7.5m'

BILTON, the property group fighting a pounds 260m bid from larger rival Slough Estates, yesterday revealed that the value of two controversial fishing and shooting estates has plummeted over the past year.

In its final defence document, independent consultants Healey & Baker said the Bilton estates near Aberdeen and Oxford were worth pounds 7.5m, compared with pounds 12m a year ago when they were valued internally by the company's directors. The group, which yesterday again rejected Slough's bid, denies allegations that the two properties were used exclusively by some of its directors.