Tribunals · London Borough of Southwark · 2017 rating list

Advertising Site Singkit adj 182 Tower Bridge Road, SE1 2AD

Advertising Right and Premises Decided 20 June 2022 CHG100176211 Montagu Evans - Richard Wackett

OutcomeAllowedThe tribunal reduced the rateable value.

Original RV£77,000

Ratepayer sought£12,500

VO conceded first£14,500−81% before the hearing

Tribunal decided£12,500from 1 Apr 2017

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 argued the subject rent of £10,000 (agreed in April 2015 just before the valuation date) with a 10% uplift to reflect the landlord's break clause represented the fair value. The tribunal found the actual rent was good evidence, agreed very close to the antecedent valuation date, and the comparable evidence provided by the VO was too varied and remote from the valuation date to be reliable. The tribunal accepted the 10% uplift was reasonable given the tenant had at least 18 months' security under the lease, and reduced the assessment from £14,500 to £12,500.

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