CAR PARK, PUTNEY EXCHANGE SHOPPING CENTRE, PUTNEY HIGH STREET, sw15 1tw

What was argued and what the tribunal found

The appellant challenged the rateable value of £229,000 for a 255-space car park at a shopping centre, arguing for a revenues and expenditure method that would yield approximately £450 per space (£114,750 total), based on declining footfall and retail values. The tribunal accepted the Valuation Officer's percentage of Fair Maintainable Trade (FMT) methodology at 40% of £611,000, finding it appropriate for car parks where rental evidence is scarce, with comparable settlements supporting the 40% rate. The appeal was dismissed and the RV of £229,500 was upheld as reasonable.

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

Grounds argued

• Valuation method · decisive

Evidence

Trading accounts, Earlier tribunal decisions

Cases cited

Lotus and Delta v Culverwell; Intu Properties PLC v Dunlevey; K Shoe Shops Ltd v Hardy; Oldschool & Oldschool v Coll; BPP Holdings Ltd v Revenue and Customs Commissioners; Wishart v Hulse; Facciolo v Costantin; Garton v Hunter; Hughes v Exeter City Council; Railway Assessment Authority v Southern Railway Co; Robinson Brothers (Brewers) Ltd v Houghton and Chester-le-Street Assessment Committee; Rozel Motor Co Ltd v Clark; Telereal Trillium v K Hewitt

Hearing

15 January 2021