Lepley v Essex County Council
Lepley v Essex County Council
- 2001
- Rating and Valuation Reporter [2001] RVR 147-153(7) .
LT 24 October 2000. The claimant (L) sought compensation for Essex CC (E)'s compulsory purchase of the subject property which included equestrian facilities, valued at £450,000 in 1999. E valued the property at £330,000 and referred to a near-by scrapyard. Both L and E used comparables to support their valuation of the property. L used 6 including 2 which were settlements agreed with E regarding the same road scheme while E used the same 3 properties as L but disregarded the 2 settlements because they were not open market transactions. It was held that the property's open market value was £375,000; the property being very suitable for the market it was aimed at.
LEPLEY V ESSEX CC
EQUESTRIAN PROPERTIES
Compulsory purchase
COMPENSATION
Valuation
EVIDENCE OF VALUE
COMPARABLES
SETTLEMENTS
OPEN MARKET VALUE
LT 24 October 2000. The claimant (L) sought compensation for Essex CC (E)'s compulsory purchase of the subject property which included equestrian facilities, valued at £450,000 in 1999. E valued the property at £330,000 and referred to a near-by scrapyard. Both L and E used comparables to support their valuation of the property. L used 6 including 2 which were settlements agreed with E regarding the same road scheme while E used the same 3 properties as L but disregarded the 2 settlements because they were not open market transactions. It was held that the property's open market value was £375,000; the property being very suitable for the market it was aimed at.
LEPLEY V ESSEX CC
EQUESTRIAN PROPERTIES
Compulsory purchase
COMPENSATION
Valuation
EVIDENCE OF VALUE
COMPARABLES
SETTLEMENTS
OPEN MARKET VALUE