HOTEL PREMISES
VALUING PROCEDURE IMPORTANT JUDGMENT P.A. DUNEDIN, this day. In a judgment important to owners and tenants of hotel premises, Mr. Justice Kennedy held, in the Supreme Court this morning, that in the renewal of the lease of the Crown Hotel, the valuators should not consider the value of the publican's license in ascertaining the value of land and improvements, nor should they, in ascertaining a fair ground rent of the land, only take into account that the land and buildings were licensed premises. His Honor: It is true that as long as land is leased the landlord has parted with possession, and does not personally enjoy the benefit of the license, but the lease explicitly provides that on its termination the license passes to the landlord. It is no argument, therefore, to say that the lease is a perpetual lease, and that the landlord has forever parted with the license. Whether he has or not would not warrant the license being valued as if it were a building or improvement, or the buildings or improvements being valued as if they included the license."
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Auckland Star, Volume LXXVI, Issue 84, 10 April 1945, Page 6
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185HOTEL PREMISES Auckland Star, Volume LXXVI, Issue 84, 10 April 1945, Page 6
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