Unit 1 Mainline Concourse, Opp Platform 16, Waterloo BR Station, Waterloo BR Station, SE1 7LY
Shop and premises Decided 20 January 2022 CHG100140083 Tanner Rose
Figures are as stated in the decision, and are values in the 2017 list; a dash means the document does not state that figure. This judgement decided 4 properties together; the figures above are for this appeal's property (Unit 1 Mainline Concourse Opp Platform 16, Waterloo BR Station, London SE1 7LY). Every property is listed below.
The 4 properties in this decision
One judgement covered all of these appeals. Each property’s figures as the judgement states them (2017 list); this appeal’s property is highlighted.
| Property | Original RV | Sought | Tribunal decided | Outcome |
|---|---|---|---|---|
| Casey Jones, East Concourse, Victoria Station, London SW1 1JT | £390,000 | £300,000 | £300,000 | Allowed |
| Unit 1 Mainline Concourse Opp Platform 16, Waterloo BR Station, London SE1 7LYThis appeal | £505,000 | £350,000 | £350,000 | Allowed |
| Unit 15 R/O Concourse Mainline, Opp Platform 16, Waterloo BR Station, London SE1 7LY | £535,000 | £320,000 | £320,000 | Allowed |
| Unit R18, Paddington Station, London W2 1HB | £675,000 | £450,000 | £450,000 | Allowed |
What was argued and what the tribunal found
The appellant argued that retail units at railway stations should be valued by reference to the minimum guaranteed rent (MGR) only, excluding the supplementary top-up element which was personal to specific occupiers and could reflect excessive performance. The tribunal allowed the appeals, finding that the MGR had been set through open competitive rental tendering close to the antecedent valuation date and represented open market value, while the top-up was occupier-specific and not necessarily achievable by a hypothetical tenant seeking to secure the unit at the outset.
Summary generated from the decision text and checked against it. The appellant was Select Service Partner, represented.
Grounds argued
- Rental evidence · decisive
- Valuation method
- Evidence
- Rents, Settled assessments, Earlier tribunal decisions, Photographs
- Cases cited
- Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC)
- Hearing
- 12 January 2022
Similar decisions
- 21A Landor Road, SW9 9RT — Allowed in part, 30 Sept 2024
- Unit 15 R/O Concourse Mainline, Opp Platform 16, Waterloo BR Station, Waterloo BR Station, SE1 7LY — Allowed, 20 Jan 2022
- Tea House Theatre, 139 Vauxhall Walk, SE11 5HL — Dismissed, 7 Apr 2021
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