New Judgment: Aberdeen City Council v Stewart Milne Group Ltd  UKSC 56
07 Wednesday Dec 2011
On appeal from:  CSOH 80
The issue in this appeal was whether the sum received by the appellant upon resale constituted “gross sale proceeds” for the purposes of an “uplift payment” owed upon resale of the land, or if this should be the market value of the land at the time, since the open market value of the land was greatly in excess of the consideration paid by the purchaser.
The Supreme Court unanimously dismissed the appeal, upholding the declarator granted in favour of the Council that any uplift due be calculated by reference to the open market value of the subjects as at the date of sale. Although it was not expressly stated in the agreement that “gross sale proceeds” constituted a sale at arms length in the open market, it could be assumed without departing from the terms of the agreement that this was the unspoken intention.