Timing Is Everything And Patience Is Key

A lesson in waiting for a right to crystallise rather than commencing premature and toothless proceedings was handed down by the High Court in the rights to light case of CIP Property (AIPT) Ltd -v- Transport For London, London Underground Ltd, Derwent Valley Central Ltd [2012] EWHC 259

The Facts

The Second and Third Defendants to the action, Transport for London ("TFL") and London Underground Limited ("London Underground") together owned the land on the south-west corner of Oxford Street and Charing Cross Road comprising, amongst other premises, Tottenham Court Road Underground Station ("the Station").

The Station is being redeveloped as part of the Crossrail project and it is envisaged that, once the development has been completed in 2017, there will then be oversite developments across a range of Underground stations which will include the Station. The third defendant, Derwent Valley Central Ltd ("Derwent"), may be appointed as the developer for these