Re: Re: Dartmouth Square Disgrace
yes but will he get a realistic price. The redeveloped land has a value of a minimum of 3/4 million, if say he built one house.
If he doesn’t get that they are stealing it off him.
1. Was he not then “stealing land” from the previous owner in paying such a small amount for the park when it was so obviously worth more. Perhaps the owner was unaware that the land could be so lucratively developed.
2. One of the greatest perculiarities of our land law, a Local Authority helps to determine the price of land (and therefore its profitability to its owner) through zoning. Would not, therefore, any hypothetical value on this land (such as the amount you mention) only result from the LAs decision to rezone it to other uses. If it retains its present zoning then surely it also retains its present value.