- v - (London : -) [2014] UKFTT RP_LON_00BK_OCE_2013_0199 (20 February 2014)

- v - (London : -) [2014] UKFTT RP_LON_00BK_OCE_2013_0199 (20 February 2014)

The Tribunal determined that the assessment of development value, whether hope or reversion, does not constitute marriage value and must be assessed separately in leasehold valuation.

Citation
[2014] UKFTT RP_LON_00BK_OCE_2013_0199
Parties
Applicant: -; Respondent: -
Jurisdiction
England and Wales
Judgment Date
20 February 2014
Procedural Posture
First Tier Tribunal (property Chamber) / Final Determination
Outcome
determination issued
Legal Topics
Development Value, Hope Value, Marriage Value, Leasehold Valuation
Property Law Development Value Hope Value Marriage Value Leasehold Valuation

Case Brief

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Parties

-

Applicant

-

Respondent

Procedural Posture

First Tier Tribunal (property Chamber) / Final Determination

Legal Issues

  1. 1 Whether assessment of development value constitutes marriage value
  2. 2 How hope or reversion value should be assessed in leasehold valuation

Ratio Decidendi

The Tribunal determined that the assessment of development value, whether hope or reversion, does not constitute marriage value and must be assessed separately in leasehold valuation.

Court Disposition

determination issued

Orders

  • Assessment of hope value at £1,024,836 to be shared between 7 parties
  • Relativity set at 99% for extended leases, 97% for leases with unexpired terms of 90 years, and 63.1% for lease with unexpired term of 36.18 years