Tribunals · London Borough of Tower Hamlets · 2017 rating list

Basement, 124, stepney way, stepney way, e1 3bg

Basement and premises Decided 14 December 2021 CHG100246579 JMA Chartered Surveyors

OutcomeAllowed in partThe tribunal reduced the rateable value, but by less than the ratepayer sought.

Original RV—£75/m²

Ratepayer sought£1,000

VO conceded first—

Tribunal decided£2,250£37.5/m²

Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 3 properties; the figures shown are for the first listed.

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.