Bromley LBC v London Docklands Development Corporation
Bromley LBC v London Docklands Development Corporation
- 1997
- Rating & Valuation Reporter [1997] RVR 173-200(28) .
LT 7 May 1997. The London Docklands Development Corporation acquired the freehold of Thames Barrier land with vacant possession. Compensation was to be assessed as if the land were subject to a confirmed compulsory purchase order. The land was within the corporation`s urban development area and was known to have been contaminated by past use. The claimant council`s valuation was based on capital value comparisons having regard to the need for remediation. The corporation criticised the claimant council`s comparables for value as being purchased for development whereas the Thames Barrier land was only suitable for open storage uses.
BROMLEY LBC V LONDON DOCKLANDS DEVELOPMENT CORPORATION
COMPENSATION
REMEDIATION
LT 7 May 1997. The London Docklands Development Corporation acquired the freehold of Thames Barrier land with vacant possession. Compensation was to be assessed as if the land were subject to a confirmed compulsory purchase order. The land was within the corporation`s urban development area and was known to have been contaminated by past use. The claimant council`s valuation was based on capital value comparisons having regard to the need for remediation. The corporation criticised the claimant council`s comparables for value as being purchased for development whereas the Thames Barrier land was only suitable for open storage uses.
BROMLEY LBC V LONDON DOCKLANDS DEVELOPMENT CORPORATION
COMPENSATION
REMEDIATION