Cases - Allied Trust Bank Ltd v Edward Symmons & Partners
Record details
- Name
- Allied Trust Bank Ltd v Edward Symmons & Partners
- Date
- [1994]
- Citation
- 1 EGLR 165
- Legislation
- Keywords
- Negligence in valuations and surveys
- Summary
-
The defendants provided the claimant lenders with a valuation of a country house, which the owners were proposing to convert into apartments and terraced houses. In holding that the defendants had not been negligent in their valuation, the court relied on the relevant RICS guidance; this showed that the defendants had been entitled to include an element of 'hope value' in their valuation of this property, which had clear development potential.