Strutt & Parker Prepare for Bumpy Ride

The Earl of Malmesbury is currently suing surveyors Strutt & Parker claiming the firm failed to negotiate a rent based on car park turnover at Bournemouth Airport.

The claim, which has been estimated at a cool £100m, centres around a piece of land that was leased for 25 years, with no breaks to National Express at £9,000 per annum. Since agreeing this lease, the land has been used by the airport for car parking, creating a very profitable income stream.

The Earl, James Carleton Harris, issued a writ against Strutt & Parker claiming that by failing to negotiate a rent based on car park turnover, the agents deprived the estate of a realistic income from the land.

Whilst Strutt & Parker deny any liability, their case was dealt a blow yesterday when it was reported in Property Week that the research they undertook was flawed...