Tribunals · Newcastle-under-Lyme Borough Council · 2017 rating list

Multi Storey Car Park, The Square, High Street, High Street, ST5 1PT

Car park and premises Decided 2 November 2020 CHG100035710 Altus Group - Oakland - Manchester

OutcomeAllowed in partThe tribunal reduced the rateable value, but by less than the ratepayer sought.

Original RV£188,000

Ratepayer sought£96,000

VO conceded first£179,000−5% before the hearing

Tribunal decided£166,000from 1 Apr 2017

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

The appellant argued that the car park should be valued on a receipts and expenditure basis (proposing £96,000 RV) and that the current assessment was out of line with comparable car parks in the locality, citing The Midway car park at £285.21 per space compared to the appeal property at £600 per space. The tribunal rejected the receipts and expenditure method and determined that car parks should be valued on a percentage of fair maintainable trade (FMT), but agreed that The Midway was the best comparable property. Finding The Midway valued at 40% of FMT, the tribunal applied the same percentage to the appeal property, resulting in an RV of £166,000 (allowing the appeal in part from the listed £188,000 and the VO's reduced assessment of £179,000).

Summary generated from the decision text and checked against it. The appellant was KRNS Properties Limited, represented.