Basement, 124, stepney way, stepney way, e1 3bg
Basement and premises Decided 14 December 2021 CHG100246579 JMA Chartered Surveyors
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 3 properties together; the figures above are for this appeal's property (Basement, 124 Stepney Way, London, E1 3BG). Every property is listed below.
The 3 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 |
|---|---|---|---|---|
| Basement, 126-128 Stepney Way, London, E1 3BG | — | £1,800 | £2,250 | Allowed in part |
| Basement, 124 Stepney Way, London, E1 3BGThis appeal | — | £1,000 | £1,350 | Allowed in part |
| Basement, 122 Stepney Way, London, E1 3BG | — | £1,000 | £1,300 | Allowed in part |
What was argued and what the tribunal found
The appellant contended the basements had no value and could not be let due to poor condition (low ceilings, damp, no services). The tribunal found the properties would have some rental value given their location and the rating hypothesis, and rejected nil or £1 RV. Starting from the comparable property at 141-143 Cannon Street valued at £75/m², the tribunal applied adjustments: 25% for lack of services, 15% for inferior location (reduced from appellant's 25%), and 10% for older condition and different planning, totalling 50% allowance, resulting in £37.50/m² and RVs of £2,250, £1,350, and £1,300.
Summary generated from the decision text and checked against it. The appellant was Zerlan Estates, represented.
Grounds argued
- Valuation method
- Evidence
- Settled assessments
- Hearing
- 24 November 2021
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