F1[13(1)Where the owner of any such freehold or leasehold interest as is mentioned in paragraph 10(1) or (2) (“relevant interest”) will suffer any loss or damage to which this paragraph applies, there shall be payable to him such amount as is reasonable to compensate him for that loss or damage.E+W
(2)This paragraph applies to—
(a)any diminution in value of any interest in other property belonging to the owner of a relevant interest, being diminution resulting from the acquisition of the property in which the relevant interest subsists; and
(b)any other loss or damage which results therefrom to the extent that it is referable to his ownership of any interest in other property.
(3)Without prejudice to the generality of paragraph (b) of sub-paragraph (2), the kinds of loss falling within that paragraph include loss of development value in relation to the property in which the relevant interest subsists to the extent that it is referable to his ownership of any interest in other property.
(4)In sub-paragraph (3) “development value”, in relation to the property in which the relevant interest subsists, means any increase in the value of the relevant interest which is attributable to the possibility of demolishing, reconstructing or carrying out substantial works of construction on, the whole or a substantial part of the property.]
Textual Amendments
F1Sch. 6 para. 13 substituted (1.10.1996) by 1996 c. 52, s. 107, Sch. 10 para. 18(9); S.I. 1996/2212, art. 2(2) (with savings in Sch.)