114, LONDON WALL, EC2M 5QD

What was argued and what the tribunal found

The appellant argued the property should be valued as a fitness centre at £160/m2 under the VOA Rating Manual for Sports and Leisure Centres (Private), supported by comparable gym assessments. The tribunal found the rental evidence for the property itself (£302/m2 when adjusted) was the best evidence and was not dissimilar to office values in the same building. The tribunal concluded that the existing assessment at £140,000 RV (£267.50/m2 adjusted) was reasonable and reflected the property's actual use at the material date, and the appellant had not demonstrated the assessment to be unreasonable.

Summary generated from the decision text and checked against it. The appellant was The Light Practice Ltd, represented.

Grounds argued

• Rental evidence
• Comparable assessments (tone) · decisive
• Valuation method

Evidence

Rents, Settled assessments, Photographs, Expert report

Cases cited

Lotus and Delta v Culverwell; Newcastle Retail Limited & Allied Domecq Retailing Limited v R F Williams; Williams v Scottish & Newcastle Retail Ltd; Fir Mill Ltd v Royton UDC and Jones; Gardiner & Theobald LLP v David Jackson

Hearing

19 October 2022

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