THE VALUATION OF WAYLEAVES : A COMPENSATION LOTTERY
||Hutchison, Norman E; Jeremy Rowan-Robinson
||THE VALUATION OF WAYLEAVES : A COMPENSATION LOTTERY
||7th European Real Estate Society Conference (14-16 June 2000) Bordeaux, France
||In the UK over the last twenty years there has been a proliferation in the statutory provision for wayleaves. The utilities requiring wayleaves such as the water, gas and electricity companies have now been joined by cable TV and a host of telecommunications providers. All have access to compulsory powers. However, there are variations between these powers and between the compensation arrangements. The paper has two main objectives. First, to examine whether compulsory purchase powers, (coupled with statutory compensation) are now applicable following the privatisation of the gas, electricity, water and telecommunication companies. Secondly, to examine the process and basis by which the utilities value and negotiate wayleave agreements. The paper considers the results of a six-month study of wayleaves funded by the RICS, which was completed in November 1999. The paper recommends that statutory powers should continue to be available where utilities are under a statutory duty to develop and maintain a service. However, the nature of the powers requires to be redefined and standardised. In addition, the paper recommends that the claimant should not merely be entitled to the financial equivalent of their loss, but that a consideration should be paid which reflects the gain to the promoter.
Post discussion ...
||D5 _ Valuation and Pricing
These pages are best viewed with any standards compliant browser (e.g. Mozilla).