Newsteer advised private owners on rights to light compensation at Lee House, London NW10, arising from SEGRO’s V Park Grand Union redevelopment. Our valuation and development modelling supported a significantly improved settlement and an agreement allowing the neighbouring multi-storey logistics scheme to proceed.
The client’s challenge
The owners needed to establish appropriate compensation for releasing their rights to light. Conventional property valuation alone did not fully reflect their value, as substantial parts of the proposed scheme infringed those rights.
Our solution
We combined development appraisal, residual land valuation and scheme cutback analysis to compare compliant and infringing development scenarios. This quantified the developer profit and land-value uplift attributable to releasing the rights, providing evidence to support compensation negotiations.
Beyond advice: how we added value
By assessing the development value unlocked by releasing the rights, we demonstrated their economic significance and strengthened the owners’ negotiating position. Our analysis connected specialist valuation expertise with the commercial realities of delivering the scheme.
Outcomes and impact
Our evidence supported a significant uplift in rights to light compensation and an agreed release of the rights, securing an improved settlement for the owners and enabling the neighbouring development to proceed.
