Windfalls from the past-purchase notices and Third Schedule development

摘要

In the Lands Tribunal decision of Greenweb Ltd v Wandsworth LBC decided on September 17, 2007 by the president, George Bartlett Q.C., and P.R. Francis, compensation of ￡1,600,000 was awarded as a consequence of the successful service of a purchase notice on the local planning authority. As the owners of the land had bought it for ￡30,000 in early 2001 the compensation for the deemed compulsory purchase of the land represented a very large windfall profit. The large increase in value was directly caused by the Lands Tribunal holding that it had to be assumed in assessing compensation that planning permission would have been granted for rebuilding residential buildings that had previously been in existence as set out in para. 1 of Pt I to the Third Schedule to the 1990 Act: rather paradoxically entitled in the Act as "Development Not Ranking for Compensation under Section 114".