COSTA COFFEE AT DLR STATION,, LONDON CITY AIRPORT,, KING GEORGE V DOCK,, KING GEORGE V DOCK,, E16 2PX

What was argued and what the tribunal found

The appellant argued that the £31,000 RV assessment was excessive and sought a reduction to £25,000 RV based on an unadjusted main space rate of £340/m² derived from the passing rent of £25,000 per annum and comparable properties. The tribunal accepted the Lotus & Delta framework and found that while the subject rent supported the proposed rate, it required caution due to adjustments needed to align with the rating hypothesis (lease commenced in 2010, five years before AVD, and subject to turnover top-up). Examining the basket of comparable rental evidence and the substantial increases in valuations for similar kiosks between the 2010 and 2017 rating lists (from £310/m² to £550-£750/m²), the tribunal was not satisfied that the adopted main space rate of £420/m² was excessive. The appeal was dismissed.

Summary generated from the decision text and checked against it. The appellant was Goldex Investments (Essex) Ltd, represented.

Grounds argued

• Rental evidence · decisive
• Comparable assessments (tone)

Evidence

Rents, Settled assessments

Cases cited

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

Hearing

12 January 2021