Existing Use Value (EUV) meaning

Existing Use Value (EUV) describes the value of land or property for its current lawful use, or on the basis of any extant and implementable planning permission for that use, excluding any uplift for the prospect of a different or more intensive use (hope value). EUV is a professional valuation concept rather than a statutory definition. It is recognised in RICS Valuation – Global Standards (Red Book UK) and is widely used in planning and property practice, including: setting benchmark land value in viability assessments (often as EUV plus a premium, “EUV+”); informing compulsory purchase compensation where development value is not evidenced under the no‑scheme rule; and in public sector and estate management valuations. Key features: - Assumes continuation of the existing lawful use. - Reflects the open market value subject to prevailing planning status, tenure, occupational leases and physical constraints consistent with that use. - Excludes hope value or speculation about future change of use or redevelopment. Usage and meaning are broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland. References to “planning permission” or “planning consent” should be read in line with the relevant jurisdiction’s planning regime.