Hotel valuation challenged

A multi-million-pound claim over the alleged negligent valuation of property is heading for the High Court. The claim centres on a valuation of five hotels bought by Tower Hill Property Investments from subsidiaries of Queens Moat Houses. Tower Hill, which paid more than £53m for the hotels, is suing valuers Weatherall Green and Smith, Terence Knight, Allen Matthews and Richard Baldwin, all of London WC2, accusing them of negligence and breach of contract in December 1990 and afterwards in preparing and submitting valuations for the hotels.