Slug & Lettuce, 27 Market Street, LE1 6DN

What was argued and what the tribunal found

The appellant argued that the subject public house was overtrading and that Fair Maintainable Trade figures should be reduced by 25% for wet trade and 35% for dry trade, proposing an RV of £79,500. The tribunal found that the trade figures were consistent and stable, and that the appellant had not provided sufficient evidence to prove overtrading. The tribunal confirmed the Valuation Officer's assessment of £114,000 RV, finding that the adopted percentages of 11.88% for wet trade and 8.05% for dry trade were in line with the Approved Guide and reflected fair trade expectations for a competent landlord.

Summary generated from the decision text and checked against it. The appellant was Stonegate Pub Company Limited, represented.

Grounds argued

• Trading receipts (pubs, hotels) · decisive
• Valuation method

Evidence

Trading accounts, Expert report

Cases cited

Watney Mann Ltd v Langley (VO) [QB 1963]; Scottish & Newcastle Retail Ltd v Williams (VO) [2000 RA 119]; Brunning & Price Ltd v Wynn-Cowell (VO) [2008 RA 1]; Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC)

Hearing

11 February 2022