Unit 310, The Shard Arcade London Bridge Street, SE1 9SG

What was argued and what the tribunal found

The appellant, a floristry business, sought to reduce the rateable value from £25,000 to £19,500 (£1,212 per m² to £1,182 per m²) based on the actual lease rent of £20,000 pa with a claimed differential of 1.66% to comparable unit 312. The tribunal found that while Lotus and Delta establishes the subject lease as a starting point, it must be considered within a basket of comparable evidence. The Valuation Officer demonstrated that a tone of £1,800 per m² had been established and agreed across comparable units in The Shard Arcade, and this comparable evidence was more reliable than the subject lease which contained terms specific to this tenant and not reflecting the rating hypothesis. The appeal was dismissed as the RV of £25,000 was reasonable.

Summary generated from the decision text and checked against it. The appellant was S Lyons Ltd, represented.

Grounds argued

• Valuation method
• Comparable assessments (tone) · decisive
• Rental evidence

Evidence

Rents, Settled assessments

Cases cited

Lotus and Delta v Culverwell; Gardiner & Theobald LLP v David Jackson

Hearing

22 November 2022

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