The claimants, the trustees of Wasps rugby club, sold their ground to a company, at a price (in shares) reflecting the valuation of £832,500, which the claimants had received from the defendants. This valuation was based on the defendants' belief that there was no prospect of obtaining planning permission to develop the land. The company was able to sell the land with outline planning permission for residential development for almost £12m, and the defendants admitted negligence. The judge, having reached the conclusion that the true value of the land at the date of the defendants' valuation was £3.25m, held that the claimants were entitled to damages of £2,417,500, that being the difference between the 2 figures.
