We have provided expert evidence in two Upper Tribunal (Lands Chamber) decisions:
Specifically, we were asked to give expert valuation evidence in respect of diminution in value, if any, which might be payable/due consequent upon historic restrictive covenants being modified and/or lifted to allow reasonable users of burdened land to develop in accordance with consents, which had been granted.
In both cases restrictive covenants were modified but not because planning consents had been obtained. Our expert evidence was important to persuade the Upper Tribunal to modify restrictive covenants in both cases to allow reasonable users of burdened land to develop their assets.
Applications for modification or lifting of restrictive covenants take time, they are complicated and they are costly to prepare.
In our experience, assuming that applications made under Section 84(1) of the Law of Property Act (LPA) 1925 are ‘reasonable’, they have good grounds for success.
Mike Tibbatts can provide further information on this specialised area of valuation and the presentation of it to an Upper Tribunal, if required.
Please contact him at email@example.com