Re: Re: Dartmouth Square Disgrace

That is an interesting interpretation of the Pointe Gourde principle; I do however feel that if it were fully applied the value of the land in the ‘no scheme world’ would be what a willing lessee would pay to a willing lessor over a term of years the multiple of which would be required to go to arbitration in the absence of agreement. In short Dublin City Council are the only potential lessee of a municipal park for a very considerable distance so whatever rent they were prepared to pay would be the only rent that could be agreed; as per the multiple it would be secure so a yield of say 3% would be fair. I’d say his interest would be worth €3,300 assuming an annual rent of €100.