(Ent in Sth Audley St) 3rd Flr 1,, Stanhope Gate,, W1K 1AF
Offices and Premises Decided 28 January 2021 CHG100076341 Altus Group - Oakland - Manchester
Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 3 properties; the figures shown are for the first listed.
What was argued and what the tribunal found
The appellant argued that rental values of three office units at Stanhope Gate were adversely affected by nearby demolition and redevelopment works at Nos 4 & 5-6 Stanhope Gate, which involved extensive excavation, piling, construction noise, traffic disruption and pavement closures. The tribunal found that disturbance was sufficient to warrant rental allowances, applying a 5% reduction to the ground/first and second floor units (material day March 2018, when works were more intensive) and a 3.5% reduction to the third floor (material day February 2019, near completion), by analogy with a comparable allowance of 7.16% agreed for offices at 12 Stanhope Gate opposite the redevelopment site.
Summary generated from the decision text and checked against it. The appellant was Evercore Partners International LLP, represented.
Grounds argued
- Building works or disturbance nearby · decisive
- Comparable assessments (tone)
- Change of circumstances
- building works in locality
- Evidence
- Photographs, Rents, Earlier tribunal decisions
- Cases cited
- Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC)
- Hearing
- 13 January 2021
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