Tone, the value of any commercial property is strongly influenced by its income, and its risk of payment (default), and longevity.
Yes some will try and buy a commercial property for owner occupation, but generally most are held as investments. In these cases the more the income, the safer that income, and the longer that income, then definitely investors will pay a premium. Other factors of course influence, like need for maintenance, etc., but generally speaking an investors perception of value is dictated by prospective return.
Same applies to water. If the water is leased then that term, safety and rate of lease will influence value.
At least it should. I'm not sure it has here though.
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