Pembury Hotel, 326-328 Seven Sisters Road, N4 2AP
Hotel and premises Decided 11 February 2022 CHG100094491 andrew bacon/JMA Chartered Surveyors
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 (hotel operator) challenged the original assessment of £410,000 RV, which had been reduced to £255,000 by the Valuation Officer. The appellant proposed £150,000 RV based on a fair maintainable trade (FMT) of £1,250,000 (grossed up from 41.5 weeks actual trade of £979,576 at 2018) applied at 12%. The Tribunal found that the Valuation Officer's FMT of £1,750,000 was excessive and unreasonable, and that the appellant's FMT of £1,250,000 was supported by comparable hotels in the locality (414 Seven Sisters Road and 3-15 Wilberforce Road). The Tribunal determined that 12% was a reasonable percentage rate to apply, consistent with the category A hotel scale and comparable properties, and allowed the appeal.
Summary generated from the decision text and checked against it. The appellant was Pembury Hotels Management Limited, represented.
Grounds argued
- Trading receipts (pubs, hotels)
- Valuation method
- Comparable assessments (tone)
- Evidence
- Trading accounts, Settled assessments
- Cases cited
- Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC)
- Hearing
- 8 February 2022
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