- Guidance on relativity outside Prime Central London (Deritend v Treskonova)
- What are the practical implications of this case?
- What was the background?
- What did the UT decide?
- Case details
Property analysis: This case was about the price payable for lease extensions of flats outside Prime Central London (PCL). The Upper Tribunal (Lands Chamber) (UT) gave guidance on how to determine the relative value of the existing lease, known as the relativity, which in turn affects how much marriage value is payable where the existing lease has less than 80 years unexpired. It held that reliance cannot, and should not, be placed on the graphs prepared for use outside PCL. Valuers should either use market evidence, or PCL graphs. Written by Tom Jefferies, barrister, at Landmark Chambers.
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