Hope remains?

Article Abstract:

The case of Lewisham Investment Partnership Ltd v Morgan is significant for highlighting legal issues relating to the opportunity for property improvement. The judgement in this case gives a legal authority for the principle that, in establishing the rent review under a lease, it is right to consider the potential for the tenant to undertake improvements and carry out a 'hope value' valuation. When looking at the rent payable for a property held under a lease, valuers should take into account how much a willing tenant would pay, bearing in mind the extent to which the lease and planning law permit improvements.

Real Estate, Real Estate and Rental and Leasing, Valuation

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Putting the brakes on depot development

Article Abstract:

Planners or operators of warehouses and depot buildings not only have to obtain planning permission, but they must also take account of goods vehicles operators' licensing laws. Firms which operate large vehicles to transport goods, or which employ distributors under contract, must ensure that new sites are suitable for keeping such vehicles. An operator of a vehicle with a maximum permitted weight of over 3.5 t must obtain an operator's licence and list any 'operating centres' it will use: traffic commissioners will then assess if the sites are suitable.

Industry Overview, Truck terminals

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