Premier Warehousing and Distribution Company Ltd v Leicester City Council
Premier Warehousing and Distribution Company Ltd v Leicester City Council
- 2000
- Rating and Valuation Reporter [2000] RVR 351-356(6) .
LT 6 July 2000. P sought compensation for the compulsory acquisition of a warehouse and distribution depot. The issue was the value of building B, a 128,882 sf single storey steel frame and cavity brickwork warehouse with a pitched asbestos sheet roof, the length of which ran a loading platform 3ft 6in high. P put this at £2,319,876 (£18 psf), L at £1,546,584 (£12 psf). Although it was accepted by both parties that the site was contaminated, P claimed that this would not affect the comparables whilst L said that a prospective purchaser would have reduced his bid to the lower end of the range of values. "Held": the compensation payable to P for building B was £1,675,466 (£13 psf) as the L's method of comparison was preferred; the valuation of building B was to be based on comparables which indicated a value of £13.25 -£13.50 psf, subject to adjustment for greater size, contamination and the loading platform.
CARBON DIOXIDE
COMPARABLES
CONTAMINATED LAND
Contamination
DISTRIBUTION CENTRES
METHANE
PREMIER WAREHOUSING AND DISTRIBUTION COMPANY LTD V LEICESTER CC
Valuation
WAREHOUSES
LT 6 July 2000. P sought compensation for the compulsory acquisition of a warehouse and distribution depot. The issue was the value of building B, a 128,882 sf single storey steel frame and cavity brickwork warehouse with a pitched asbestos sheet roof, the length of which ran a loading platform 3ft 6in high. P put this at £2,319,876 (£18 psf), L at £1,546,584 (£12 psf). Although it was accepted by both parties that the site was contaminated, P claimed that this would not affect the comparables whilst L said that a prospective purchaser would have reduced his bid to the lower end of the range of values. "Held": the compensation payable to P for building B was £1,675,466 (£13 psf) as the L's method of comparison was preferred; the valuation of building B was to be based on comparables which indicated a value of £13.25 -£13.50 psf, subject to adjustment for greater size, contamination and the loading platform.
CARBON DIOXIDE
COMPARABLES
CONTAMINATED LAND
Contamination
DISTRIBUTION CENTRES
METHANE
PREMIER WAREHOUSING AND DISTRIBUTION COMPANY LTD V LEICESTER CC
Valuation
WAREHOUSES