(2)The compensation to which a tenant shall be entitled under subsection(1), shall be the estimated value of such improvement at the time of the termination of his tenancy. In estimating such value regard shall be had to,—(a)the amount by which the value of the land is increased by theimprovement;(b)the present condition of the improvement and the probable duration of its effects;(c)the labour and capital provided or spent by the tenant for the making of the improvement; and(d)any reduction or remission of rent or other advantage allowed to the tenant by the landlord in consideration of the improvement including permanent fixtures.
