Freehold Management (Traders) Ltd v Plumley and another
Freehold Management (Traders) Ltd v Plumley and another
- 1987
- Estates Gazette 284(6355) 10 October 1987, 237-240(3) .
LT 14 July 1987 (LRA/4/1986). Appeal by freeholder (F) against decision of LVT on the determination of the price to be paid by tenants (P) for the freehold interest of the subject house under the Leasehold Reform Act 1967 s9(1) at 855 against F`s contention of 1,650. P sought to uphold LVT`s decision. Two percentage figures were in dispute. F contended for 40% for site value in place of LVT`s 30% and for 6% in the reversion in place of LVT`s 7%. F`s valuer relied on several other similar plots, determining site values at 46%, 47% and 48%. In his experience site values as a percentage of the whole had not changed since 1983, but, as he had no evidence to support percentages derived from transactions in that year he applied a figure of 40% to the subject house; he also had no evidence regarding ground rents determined in the open market, but, in his experience ground rents paid in respect of flats in the area had not increased as much as other property values and so for the subject pre
VALUATIONS
LT 14 July 1987 (LRA/4/1986). Appeal by freeholder (F) against decision of LVT on the determination of the price to be paid by tenants (P) for the freehold interest of the subject house under the Leasehold Reform Act 1967 s9(1) at 855 against F`s contention of 1,650. P sought to uphold LVT`s decision. Two percentage figures were in dispute. F contended for 40% for site value in place of LVT`s 30% and for 6% in the reversion in place of LVT`s 7%. F`s valuer relied on several other similar plots, determining site values at 46%, 47% and 48%. In his experience site values as a percentage of the whole had not changed since 1983, but, as he had no evidence to support percentages derived from transactions in that year he applied a figure of 40% to the subject house; he also had no evidence regarding ground rents determined in the open market, but, in his experience ground rents paid in respect of flats in the area had not increased as much as other property values and so for the subject pre
VALUATIONS