Britain's biggest cement producer, Blue Circle, has moved to fend off the unwanted £3.4 billion takeover offer from France's Lafarge by highlighting the value of its surplus properties many of which are in the lucrative south east of England and within 30 miles of London.

Some properties are on land earmarked for new housing while other plots are on a site earmarked for a new Channel Tunnel rail link passenger terminal.

Read an interview with Richard Spray, Head of Group Property at Blue Circle

Richard Byatt