Paragraph 21 Any determination of market value: current lease gives rise to a right to hold overI1

England and Wales Not yet in force

(1)

This paragraph applies when determining the market value of the relevant freehold or the notional lease if—

(a)

some or all of the newly owned premises are comprised in a current lease which gives rise to a right to hold over under the Local Government and Housing Act 1989, and

(b)

the tenant is not holding over under that Act at the valuation date.

(2)

That right to hold over, and the likelihood of that right being exercised, is to be taken into consideration in determining the market value only if—

(a)

the term date of the current lease is within the period of five years beginning at the valuation date, and

(b)

that right to hold over is likely to be exercised.

Annotations

Commencement

I1: Sch. 4 para. 21 not in force at Royal Assent, see s. 124(3)