Where a tenancy had to be valued following a dissolution of the partnership to whom the tenancy had been granted and assignment by consent to one of the former partners, the valuation was to be as on a sale on the open market. A proper assessment had to be made of the evidence as at the date of assignment, and the judge could take a realistic view of what would be the intentions of both landlord and tenant toward the tenancy, and how those intentions might affect the open market valuation. The value was not the amount the tenant would have been prepared to accept for the tenancy, but how much he would have been prepared to offer to buy it.
Citations:
Times 07-Nov-2000, [2000] EWCA Civ 264
Links:
Jurisdiction:
England and Wales
Agriculture, Landlord and Tenant
Updated: 23 May 2022; Ref: scu.135695