Appeal No. DS93/0/011

AN BINSE LUACHÁLA
VALUATION TRIBUNAL
AN tACHT UM LAITHREAIN TREIGHTE, 1990
DERELICT SITES ACT, 1990

Charles Duffy APPELLANT
and
Dublin Corporation RESPONDENT

RE: Derelict Three storey house at 36, Benburb Street, County Borough of Dublin
Market Value

B E F O R E
Henry Abbott S.C. Chairman
Padraig Connellan Solicitor
Joe Carey P.C. M.I.A.V.I.

JUDGMENT OF THE VALUATION TRIBUNAL
ISSUED ON THE 13th DAY OF AUGUST, 1993

By Notice of Appeal dated the 12th day of January, 1993 the appellant, Mr. Charles Duffy, appealed against the determination of Dublin Corporation in fixing a market value under Section 22 of the Derelict Sites Act, 1990 of £8,500 on the above described site.
The site had been entered in the Derelict Sites Register of the respondent on the 25th November, 1991.

WRITTEN SUBMISSIONS:
Mr. D.G. Garvey, Chartered Valuation Surveyor, submitted a precis of evidence on behalf of the respondent. No precis was submitted on behalf of the appellant.

From the precis of evidence the Corporation made the following comments:-

Location:
The Property is located on the Northern side of Benburb Street in that section between Wood Lane and Collins Barracks opposite an apartment block (under construction) lying 60 yards from Sarsfield/Ellis Quay and approximately 1 mile from the City Centre.

Adjoining users include motor repair garages and residential shop premises.

Description:
The property comprises a three storey mid-terrace flush with pavement fire damaged building with small enclosed rear yard. Site area 1,000 square feet or thereabouts.

Condition:
The property was badly damaged by fire and has lain vacant for several years. Major structural elements including the roof and upper floors are missing.

Town Planning:
The property is located within an area zoned as a rejuvenation area, in the Dublin City Development Plan, 1991.

The property is located within an area which is "Designated" for Tax Incentives.

General:
The property comprises a derelict building in a terrace of mainly derelict/unfit former residential/shop premises in an area awaiting redevelopment.

There has been a significant up-turn in the fortunes of this area in recent years led by the financial incentives and characterised by Quayside Apartment Blocks and active plans to extend the educational facilities at the adjoining Law Society Headquarters and refurbish and develop Collins Barracks.

Valuation:
In Mr. Garvey's opinion the market value of the property in accordance with Section 22 of the Derelict Sites Act, 1990 is in the sum of £8,500.
Calculation: Site Area
1,000 sq.ft. @ £8.50 per sq.ft. = £8,500
Capital Value say £8,500

The submission of the respondent set out in an appendix thereof, location maps and details of comparisons for the purpose of establishing the market value of the subject property, which is set out in the Appendix to this judgment.

ORAL HEARING:
The oral hearing took place herein on the 16th of April, 1993. Mr. Leo Martin, Auctioneer, appeared for the appellant and Mr. Terence O'Keeffe, Solicitor, appeared for the respondent.

Mr. Martin argued from the outset that as the subject was held by his client under a lease with just 3 years to run the valuation of £1,000 did not accurately reflect his interest in the term outstanding of the leasehold premises. There had been no negotiation between the Corporation and the appellant in relation to the purchase of the reversionary interest in the premises. The appellant had other sites in the area.

When requested by the Tribunal to indicate a view Mr. Martin could not disagree with the valuation of the subject site at £8,500 on the basis of the valuation of the unencumbered fee simple interest in such land.

FINDINGS:
In view of the outcome that no evidence was offered to contradict the valuation of £8,500 placed on the site by the respondents and in view of the fact that under Section 21 of the Derelict Sites Act, 1990 the Local Authority and the Tribunal are bound to value the site on the estimated price which the unencumbered fee simple of the land would fetch if it were sold on the open market on the valuation date in such manner and in such conditions as might reasonably be calculated to obtain for the vendor the best market price for the land, the Tribunal finds that the market value of the subject site in accordance with the Derelict Sites Act, 1990 is £8,500.

The respondents indicated that in the event of the Tribunal holding for the figure put forward by the Corporation in respect of valuation that they would not be seeking costs and accordingly the Tribunal makes no orders as to costs having so indicated to the parties at the hearing.