North End International Broadcast Centre, Olympic Park, E20 2ST
TV studio and premises Decided 9 July 2021 24208266 Colliers International - Rating
Figures are as stated in the decision; a dash means the document does not state that figure.
What was argued and what the tribunal found
BT Plc appealed against the RV of £675,000 for a tv studio at the Olympic Park, seeking a reduction to £166,000. The tribunal found that while the actual rent of £1,487,385 pa (later £1,834,069 pa) required substantial adjustment to conform to the rating hypothesis, it carried weight as the property was sui generis with sparse comparable evidence. The tribunal rejected the appellant's arguments for surplusage allowance, lack of natural light adjustment, and locality unfitness allowance. The tribunal concluded the VO's valuation of £675,000 was not excessive having regard to the actual rent and the reasonable application of comparable warehouse values in the absence of direct studio comparables.
Summary generated from the decision text and checked against it. The appellant was BT Plc.
Grounds argued
- Rental evidence
- Comparable assessments (tone)
- Valuation method
- Quantum or end allowance
- Other
- Evidence
- Rents, Settled assessments, Expert report
- Cases cited
- Scottish & Newcastle Retail Ltd and Another v Williams (VO); Lotus and Delta v Culverwell
- Hearing
- 30 June 2021
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