Case Study

Shop and flat at 20-22 Larkhill Place

Details:

This property was held by the shop owners and had just 7½ years still to run with a peppercorn rent.

Orme Associates proceeded to acquire the freehold from the Landlord, Liverpool City Council, and no agreement on price could be reached,and so made an application to the First-tier Tribunal for a determination on price.

We submitted a valuation of £12168 whilst the Landlord submitted a valuation of £29860, and the First-Tier Tribunal awarded £29852 stating they “…preferred the Landlords arguments”. We thought the capital value of the property and the site value adopted was too high, so we asked the First-Tier Tribunal for permission to appeal their decision, which was refused as it was considered that our arguments did not “…have a real prospect of success”. In these circumstances the requesting party can ask the Upper Tribunal direct, i.e. without permission, to hear the case, and the Upper Tribunal agreed stating that the Applicant (our client) “arguably [had] a well-founded complaint” and later in allowing the appeal awarded £19389, closer to our valuation of £12168.

Additional Downloads

• FT Tribunal Decision - 13 May 2015
• FT Tribunal Decision - 23 July 2015 - Refusing Permission
• Upper Tribunal - Grant of Permission to Appeal
• Upper Tribunal Decision - Larkhill Place - 21 Apr 2016