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Gallagher (VO) v Read and Partners [2015] UKUT (LC) 00001

DATE: 12 Jan 2015

The Upper Tribunal (Lands Chamber) valued purpose built doctors’ surgeries by the contractor’s basis because the rentals method was rejected since the only rents available were based on independent valuations undertaken by the district valuer which produced a figure described as Current Market Rent for the purposes of the Doctors’ Rent and Rates Reimbursement Scheme but those rents did not reflect the value of occupation to the occupier since they were too far from the rating hypothesis as they were derived from development appraisals, were not based upon open market (or any other actual market) transactions, and were not the subject of a willing negotiation between a prudent landlord and tenant with the premises vacant and to let.