Further confessions of a valuer, 02 – The Property Chronicle
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Further confessions of a valuer, 02

Investor's Notebook

Unfair, excessive and bad in law.

In this very special series of exclusive articles for The Property Chronicle, Australian property legend Norman Harker reflects on his extraordinary 50-year life in real estate. He will pull no punches partly because, as he freely admits, Norman has a limited life expectancy of five years from December 2018 due to a diagnosed terminal blood cancer, which he has cheerfully accepted in preference to (in his words) “kicking the bucket without notice”. We are honoured he has chosen us to publish these brilliant, funny and incisive reflections of a lifetime in property.

A future client phoned and said, “I know your boss’s father!”

Me, “I never thought he knew his father!”

“I know your boss’s father!”

It went downhill from there.

Client, “I’ve got a problem. I live in Luton.”

Me, “Their soccer team is worse than Arsenal.”

Anyway, hoping no one would see me, I went up to Luton and investigated and here’s the schematic diagram of the problem:

Some explanations for those readers unfortunate in living outside the now (dis)UK.

1. Luton was a nice quiet town 35 miles from London. In 1905, a motor works was established. It was regarded as the posterior orifice of the Southeast of England, where an atomic bomb might cause £4 17s 6d damage.

2. The Compulsory Purchase Order (CPO) system in the dis(UK) is the system where various government bodies are able to acquire land from landowners.

The local authority, Luton Borough Council (LBC) had acquired some back land for a new school and had largely completed it by using a right of way to it. There was no other means of access.

A right of way only carries the right to pass and re-pass. The LBC served a CPO on the five owners who controlled the right of way.

An owner could object that the CPO was excessive and that they, the owners, were prepared to sell just the land that was required.

I served the necessary objection on my client’s behalf. My client got the other four owners to do the same. Effectively, the other four got free advice.






Investor's Notebook

About Norman Harker

Norman Harker

Norman Harker FRICS FAPI, the Principal of Sydney-based consultant Norman Harker & Associates, is a specialist Excel property consultant, with expertise in developing, validating, and securing the robustness of Excel DCF and CF analyses for analysing transactions, valuations, investment analysis and feasibility studies. He was an elected New South Wales divisional board member of the Australian Property Institute in 2013-2015 and for many years was a senior lecturer at the University of Western Sydney, where he specialised in developing applications for the use of practising valuers; before that he lectured at the University of Aberdeen in Scotland. He began his career at Conrad Ritblat & Co in London, where he rose from trainee valuer to associate partner. He was diagnosed with incurable multiple myeloma in 2018 and given a life expectancy of five years, and also suffers from an incurable and often inappropriate sense of humour.

Articles by Norman Harker

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