Letter to the Parliamentary Commissioner
for Standards from Mr R McCann MRICS, Valuation & Lands Agency
Further to your letter dated 9 July 2001 can advise
The subject premises comprise of 2½ storey terrace
property located in a mainly residential area of Larne.
The Open Market Rental Value of the property is assessed
in accordance with Practice Statements 4.9 and 4.2 of the RICS
Appraisal and Valuation Manual. I have assumed that a standard
commercial lease was in operation from 1 April 1988 and was subject
to five yearly rent reviews.
On this basis the rental values have been assessed
1 April 1988 to 31 March 1993 £2,340
1 April 1993 to 31 March 1998 £2,600
1 April 1998 to 31 March 2003 £3,016
If you require further advice, please contact me.
20 July 2001