Lloyds TSB Bank plc v Edward Symmons and Partners
Lloyds TSB Bank plc v Edward Symmons and Partners
- 2003
- Estates Gazette Case Summaries [2003] 13 EG 116 (CS) (1) .
[2003] EWHC 346 (TCC). Action by the claimant bank (L) for damages arising out of an allegedly negligent valuation provided by the defendant firm (S) in 1998. S advised that the commercial property was worth £525 000. L sold the premises and contended that the true open market value was £1.1m. The main allegation was that S had not accounted for various lettable areas capable of producing an annual income of about £56 600. The judge found that S's valuation fell within the permissible non-negligent range. "Held" the claim was dismissed. View judgment at www.bailii.org.
LLOYDS TSB BANK PLC V EDWARD SYMMONS AND PARTNERS
NEGLIGENCE
OPEN MARKET VALUE
LETTABLE AREA
VALUERS
UNDERVALUATION
DUTY OF CARE
RENTAL VALUES
FLOOR AREAS
COMMERCIAL PREMISES
[2003] EWHC 346 (TCC). Action by the claimant bank (L) for damages arising out of an allegedly negligent valuation provided by the defendant firm (S) in 1998. S advised that the commercial property was worth £525 000. L sold the premises and contended that the true open market value was £1.1m. The main allegation was that S had not accounted for various lettable areas capable of producing an annual income of about £56 600. The judge found that S's valuation fell within the permissible non-negligent range. "Held" the claim was dismissed. View judgment at www.bailii.org.
LLOYDS TSB BANK PLC V EDWARD SYMMONS AND PARTNERS
NEGLIGENCE
OPEN MARKET VALUE
LETTABLE AREA
VALUERS
UNDERVALUATION
DUTY OF CARE
RENTAL VALUES
FLOOR AREAS
COMMERCIAL PREMISES