City residents will have received a glossy flier, "Seaside Living for City Lovers", from Barratt's, advertising flats in its new development, City Point.

As well as describing the flats, much is made of the fact that they are 15 minutes from the sea, ten minutes from the town centre and five minutes from the station and North Laine.

These selling features have not, of course, been put there by the developer but either by the taxpayer, other residents and businesspeople in the city, or by "Mother Nature".

Nevertheless, these benefits account for the hefty price tag.

This is not a criticism of the developer, who has had to pay through the nose for the land in the first place on account of the advantages of its location.

But isn't there something odd about the whole business of being able to profit from trade in things that no one has made?

-Henry Law, Brighton