On the rent review of a large factory of which the only potential occupier was the tenant in question, one should assume a hypothetical landlord and hypothetical willing tenant so that the rental levels were not affected by one or both parties being in a monopoly position. A hypothetical willing seller and a hypothetical willing buyer can walk away from the transaction if a proper price is not being agreed.
Judges:
Donaldson J
Citations:
(1977) 36 P and C R 185
Jurisdiction:
England and Wales
Citing:
Applied – Inland Revenue Commissioners v Clay CA 1914
The court considered the market value of a private residence. The evidence was that its value to persons wishing to use it as a private residence was 750 pounds. However, the house adjoined a nurses’ home the trustees of which wanted to extend their . .
Cited by:
Cited – Earl Cadogan v Pitts and Wang; Similar HL 10-Dec-2008
The House considered the basis of valuation on an acquisition of the freehold reversion of a lease under the 1967 Act of the three elements, the rent, vacant possession after the lease, and the marriage or hope value of the two interests when . .
Lists of cited by and citing cases may be incomplete.
Landlord and Tenant
Updated: 05 May 2022; Ref: scu.278773