2540. MR SAUNDERSON: We have just purely used the planning permission which we did obtain in the valuations, so we had planning permission and there is no dispute between the valuers on the fact that we had planning permission for a six-storey office building of a certain size and that is what we have used for the valuation and you will see that.

  2541. CHAIRMAN: I have seen it, but I have just been talking about it, it is on page five, is it not?

  2542. MR SAUNDERSON: Yes, correct, in the second bundle. Forgive me, but there are two sets of papers within this. There are the papers that have been given to the House of Commons, which are numbered 1 to 86.

  2543. CHAIRMAN: It is after the extracts from the Commons Committee proceedings.

  2544. MR SAUNDERSON: It is about in the middle of the bundle. There is a planning permission for a building of 714 square metres taking just over ten square feet to the square metre. It is 7,500 square feet roughly.

  2545. CHAIRMAN: Yes, but you see, this was granted in February 1990.

  2546. MR SAUNDERSON: Correct.

  2547. CHAIRMAN: Do you wish to call evidence to show whether that is still a valid basis for a valuation today?

  2548. MR SAUNDERSON: There has not been a particular dispute on that. The only dispute on the area of the building was that we suggested we could get a slightly higher gross to net ratio today than we could have got in 1990 for various reasons, but there is not very much between the surveyors as regards the area of the building.

  2549. CHAIRMAN: The only definitive thing is the Certificate of alternative development , is it not?

  2550. MR SAUNDERSON: In my humble submission, the planning permission that was granted is a—

  2551. CHAIRMAN: No, it is not, it is out of date, it is invalid, it has expired. The current situation would be guarded by a Certificate of alternative development , would it not?

  2552. MR SAUNDERSON: I bow to your greater knowledge. I have never heard of a Certificate of alternative development. I am so sorry for not having known about that. I have been advised by surveyors for the last 15 years on this and I was not advised to apply for one but, interestingly, Crossrail is not particularly disputing the basis of the planning permission already granted.

  2553. CHAIRMAN: Let me now go back to the beginning of my question. What do you want us to do? Do you want us to step into the shoes of the Lands Tribunal and carry out the entire exercise?

  2554. MR SAUNDERSON: I feel that you can suggest the valuation date or order a valuation date with ease. The acceptance of the blight notice would be a perfectly valid basis for the valuation date.

  2555. CHAIRMAN: And carry out the valuation on that date?

  2556. MR SAUNDERSON: As at February 2007.

  2557. CHAIRMAN: And carry out the evaluation on that date?

  2558. MR SAUNDERSON: Yes.

  2559. CHAIRMAN: And apply the necessary interest?