In assessing compensation for compulsory acquisition of land subject to complex commercial arrangements (such as quarrying/landfill deeds), the 'before and after' method of valuation may be applied and contractual obligations between the landowner and third parties (such as airspace creation payments) need not reduce compensation where the adopted valuation methodology already accounts for those obligations. A party's contractual right to a profit à prendre under a deed does not necessarily constitute a compensable 'interest' in the land under s 56(2) of the Just Terms Act where the deed expressly provides that the party is a licensee only. The dissent raises an unresolved question about whether expert valuation evidence should be subjected to commonsense cross-checks against recent arm's length transactions.
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