Cases - Daejan Investments Ltd v Cornwall Coast Country Club
Record details
- Name
- Daejan Investments Ltd v Cornwall Coast Country Club
- Date
- (1985)
- Citation
- 1 EGLR 77 or 273 EG 1122
- Legislation
- Keywords
- Commercial property – landlord and tenant – rent review – review on basis of hypothetical letting – valuer – basis of valuer’s review
- Summary
-
The rent review clause of the lease of a casino contained a direction to disregard any increase in rental value attributable to the actual tenant's gaming licence, but it did not contain any assumption as to whether the hypothetical tenant had a gaming licence or the necessary certificate of consent from the Gaming Board. The valuer was not entitled to assume that the hypothetical tenant would, on the review date, hold a certificate of consent and a gaming licence, but the valuer was entitled to take into account evidence showing the existence in the market of persons who might stand a good chance of obtaining a certificate of consent and a gaming licence, although he also had to take account of the uncertainty that would attach to any application for the certificate and licence.