Kwik Save Stores Ltd v Stockton on Tees BC [electronic resource]
Kwik Save Stores Ltd v Stockton on Tees BC [electronic resource]
- 2004
[2004] EW Lands ACQ/132/2002. The court had to determine the compensation payable by a local council to the claimant following a compulsory purchase of a supermarket for redevelopment purposes. The claimant's claim was based on total extinguishment of its town centre business on the grounds that, due to the actions of the council and/or its development partner, it was unable to take a lease on a replacement store that was being built and non of the alternatives offered were suitable. The defendant disputed this and argued that the correct basis for compensation was notional relocation or extinguishment of business. The basis for assessing compensation was the main issue to be decided, followed by the disputed value of the remaining lease. It was determined that the council's claim was more convincing and that the claimant could have moved to the new unit, thereby failing to mitigate its losses, although it was accepted that the alternatives offered were not suitable. Compensation set on the basis of total extinguishment of business. A lower figure was awarded sue to differences in calculating the level of projected future profits and the multiplier used to determine the value of the business.
KWIK SAVE STORES LTD V STOCKTON ON TEES BC
LANDS TRIBUNAL ACT 1949
COMPULSORY PURCHASE ORDERS
DIRECTOR OF BUILDINGS AND LANDS V SHUN FUNG IRONWORKS LTD
England and Wales--1543-
[2004] EW Lands ACQ/132/2002. The court had to determine the compensation payable by a local council to the claimant following a compulsory purchase of a supermarket for redevelopment purposes. The claimant's claim was based on total extinguishment of its town centre business on the grounds that, due to the actions of the council and/or its development partner, it was unable to take a lease on a replacement store that was being built and non of the alternatives offered were suitable. The defendant disputed this and argued that the correct basis for compensation was notional relocation or extinguishment of business. The basis for assessing compensation was the main issue to be decided, followed by the disputed value of the remaining lease. It was determined that the council's claim was more convincing and that the claimant could have moved to the new unit, thereby failing to mitigate its losses, although it was accepted that the alternatives offered were not suitable. Compensation set on the basis of total extinguishment of business. A lower figure was awarded sue to differences in calculating the level of projected future profits and the multiplier used to determine the value of the business.
KWIK SAVE STORES LTD V STOCKTON ON TEES BC
LANDS TRIBUNAL ACT 1949
COMPULSORY PURCHASE ORDERS
DIRECTOR OF BUILDINGS AND LANDS V SHUN FUNG IRONWORKS LTD
England and Wales--1543-