Which offers better value for redeeming Velocity points - tickets to London or Tokyo?

I have a dilemma with this! I want to redeem 2 x one way tickets to London

I currently have 427000 velocity points and looking at either flying with:
– Etihad for 403000 points + ~$1000 in taxes or
– Singapore Air for 400000 points (after transfer) + ~$180 in taxes

My partner wants to fly to Tokyo:
I can redeem 2 x Business Class tickets return from Sydney with $427000 + ~$313 in taxes but the redeem value is not as good as flying first to London.

What are your advices?

Thanks all

I think you’ve answered it yourself in terms of redeem value.

What is not clear is how flexible you are in not travelling to London or Tokyo . If you use points on one do you still need the other trip.  Would you pay cash fare for one. Particularly as Virgin partners do not fly direct Sydney to Tokyo