Macey v Debenham Tewson and Chinnocks
Macey v Debenham Tewson and Chinnocks
- 1993
- Estates Gazette (1993) 12 EG 127-131(5) .
ChD 29 September 1992. The plaintiff, M, is a solicitor who started investing in commercial property in 1983. He was mainly interested in freehold retail properties in good locations yet at low rents with about 15 years unexpired. He employed the defendant surveyors, D, to find him properties. In 1986 he bought a property in Maidenhead which led to him suing D for advising him to pay too much for it. He paid £1.026m and alleges the value was £530,000. He was advised by another firm of surveyors that with hope value he should have paid £633,750. The case was held in favour of D on the grounds that the valuation had been correct when examining comparable values and yields.
ABOUT RICS-RICS MEMBERS
NEGLIGENCE
SHOP
Valuation
ChD 29 September 1992. The plaintiff, M, is a solicitor who started investing in commercial property in 1983. He was mainly interested in freehold retail properties in good locations yet at low rents with about 15 years unexpired. He employed the defendant surveyors, D, to find him properties. In 1986 he bought a property in Maidenhead which led to him suing D for advising him to pay too much for it. He paid £1.026m and alleges the value was £530,000. He was advised by another firm of surveyors that with hope value he should have paid £633,750. The case was held in favour of D on the grounds that the valuation had been correct when examining comparable values and yields.
ABOUT RICS-RICS MEMBERS
NEGLIGENCE
SHOP
Valuation