VALUE OF HOTEL
LICENSE NOT TO BE CONSIDERED IMPORTANT JUDGMENT Dunedin, April 10. In a judgment important to owners and tenants of hotel premises Mr Justice Kennedy held this morning that in a renewal of the lease of the Crown Hotel valuators should not consider the value of the publican’s license in ascertaining the value of land and improvements. nor should they in ascertaining the fair ground rent of the land only take into account that the land and buildings were licensed premises. The judge said: “It is true that as long as the 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 was no argument therefoi-e to say that the lease is a perpetual lease and 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.” — P.A.
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https://paperspast.natlib.govt.nz/newspapers/NEM19450411.2.61
Bibliographic details
Nelson Evening Mail, Volume 80, 11 April 1945, Page 4
Word Count
185VALUE OF HOTEL Nelson Evening Mail, Volume 80, 11 April 1945, Page 4
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