Table:
| £m | 2019 | 2018 |
| --- | --- | --- |
| Summarised income statement |  |  |
| Revenue | 64.0 | 68.3 |
| Loss for the year | (177.2) | (103.7) |
| Summarised balance sheet |  |  |
| Investment and development property | 676.8 | 841.8 |
| Borrowings – 4.125% bonds 2023 | (480.5) | (479.5) |
| Borrowings – compound financial instrument | (488.5) | (473.8) |
| Other net liabilities | (27.7) | (31.2) |
| Net liabilities | (319.9) | (142.7) |
Paragraphs:
34 Subsidiaries, joint ventures and associates (continued)
Other entities
Intu (SGS) Finance plc and Intu Metrocentre Finance plc are consolidated as subsidiaries in these financial statements but are not listed in the table above as the Group does not own the shares in these companies. These companies are vehicles set up on behalf of the Group for the sole purpose of issuing some of the Group’s listed debt. The Group’s obligations in respect of this debt via a back-to-back intercompany loan agreement between these companies and other Group companies, and security over investment property via a deed of charge between the security trustees and other Group companies, mean that the Group is deemed to have control of these companies.
Non-controlling interests
By virtue of their 40 per cent interest in The Metrocentre Partnership, GIC Real Estate is entitled to appoint 40 per cent of the directors of Metrocentre (GP) Limited. GIC Real Estate through an intermediate entity also owns a 40 per cent interest in the capital of Metrocentre Lancaster LLP. £58.2 million of the non-controlling interest losses shown in the balance sheet at 31 December 2019 (2018: £12.7 million earnings) and £70.9 million of the non-controlling interest share of loss shown in the income statement for the year ended 31 December 2019 (2018: share of loss £41.5 million) relates to GIC Real Estate’s interest in these entities. Set out below is the summarised financial information of The Metrocentre Partnership and Metrocentre LLP at 100 per cent, as consolidated:
The balance sheet includes a non-controlling interest recoverable amount of £58.2 million (2018: £12.7 million attributable to noncontrolling interest). This amount is considered to be recoverable in view of the £195.4 million owed to the non-controlling interest (which is included in the Group’s borrowings in note 23).
Question:
What is the net liabilities in 2019?