Luminar Leisure Ltd v Apostole
Luminar Leisure Ltd v Apostole
- 2001
- Estates Gazette Law Reports [2001] 42 EG 140-145(6) .
ChD 24 May 2001. The claimant (L) held a lease of premises that had been previously operated by the defendant landlord (A) as a nightclub. The premises were subsequently listed as buildings of special interest and L applied to A for consent to underlet and change of use to a fitness centre. Based on the advice and assessment of his valuer (W), A refused consent claiming the change of use and proposed rental value would not compensate him for £300,000 loss of reversionary value. L claimed damages contesting that A had unreasonable withheld consent. A counterclaimed for damages for alleged breaches of covenant by L. L's claim was allowed and A's counterclaim dismissed on the grounds of flawed advice from W. W's method of valuing the business was improper and he had incorrectly dismissed the fitness club as a 'fad' that would not last.
UNDERLETTING
LUMINAR LEISURE LTD V APOSTOLE
FITNESS CLUB
CHANGE OF USE
NIGHTCLUB
Valuation
ChD 24 May 2001. The claimant (L) held a lease of premises that had been previously operated by the defendant landlord (A) as a nightclub. The premises were subsequently listed as buildings of special interest and L applied to A for consent to underlet and change of use to a fitness centre. Based on the advice and assessment of his valuer (W), A refused consent claiming the change of use and proposed rental value would not compensate him for £300,000 loss of reversionary value. L claimed damages contesting that A had unreasonable withheld consent. A counterclaimed for damages for alleged breaches of covenant by L. L's claim was allowed and A's counterclaim dismissed on the grounds of flawed advice from W. W's method of valuing the business was improper and he had incorrectly dismissed the fitness club as a 'fad' that would not last.
UNDERLETTING
LUMINAR LEISURE LTD V APOSTOLE
FITNESS CLUB
CHANGE OF USE
NIGHTCLUB
Valuation