 Decapitalisation rate on Estimated Capital Value is to be determined by reference to financial market rates.State of Locality
"Clement (VO) v Addis Ltd. [1988] 1 All ER 593"
The House of Lords held that an intangible factor such as the existence of an enterprise zone nearby should be taken into account as it had affected the state of locality of the premises.The effect of this decision was later restricted by the enactment of the Local Government Finance Act 1988 which provided that matters affecting the physical state of the hereditament and physical state of the locality in which the hereditament is situated were to be taken into account.