Upper Tribunal Revalues Greenfields
The Upper Tribunal has, in EE & H3G v AP Wireless (“Vache Farn”) given new guidance on the valuation of rural greenfields – using a tonal rent approach, and having regard to transactions relating to smaller rural land uses, it arrived at an annual rent of £1,750, upping the OnTower v Green (“Dale Park”).
It also allowed a redevelopment break, operable after the fifth year of the term, including for redevelopment for the site provider’s own telecommunications development.
Judgment is here.
Oliver Radley-Gardner KC appeared for the operator, and Wayne Clark (with Toby Watkin KC) appeared for the site provider.
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