1-2 Bear Gardens, SE1 9ED

What was argued and what the tribunal found

The appellant argued that the subject property, a school occupying ground and lower ground floors of a mixed-use building in London SE1, should be valued using the contractors method at a base rate of £220/m2, resulting in an RV of £60,500 effective from 6 March 2018 (the practical completion date). The Valuation Officer had used rental evidence from comparable office properties to support an RV of £139,000 effective from 6 April 2018. The tribunal found that the VO's approach was not reasonable, placing insufficient weight on the comparables because they were office buildings whereas the subject property, when vacant and to let, must be assumed to be a school. The tribunal applied the contractors method and adopted £220/m2, reducing the RV to £60,500 with the correct effective date of 6 March 2018.

Summary generated from the decision text and checked against it. The appellant was Bell Educational Services Ltd, represented.

Grounds argued

• Rental evidence
• Valuation method · decisive
• Effective date

Evidence

Rents, Settled assessments, Expert report

Cases cited

Lotus and Delta v Culverwell

Hearing

22 November 2022