Tribunals · London Borough of Tower Hamlets · 2017 rating list

Basement, 122, stepney way, stepney way, e1 3bg

Basement and premises Decided 14 December 2021 CHG100246588 andrew bacon/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 argued the basements had no rental value due to poor condition, lack of services, damp and low ceiling heights, proposing RV of £1 or £0. The Valuation Officer argued the properties could be let given their location. The tribunal found a market existed for self-contained basement storage and adopted a comparable property (141-143 Cannon Street at £75/m²) adjusted downward by 50% to £37.50/m² to reflect the inferior age, condition, access, location and lack of services of the appeal properties, determining RV £2,250 for 126-128 Stepney Way, £1,350 for 124 Stepney Way, and £1,300 for 122 Stepney Way.

Summary generated from the decision text and checked against it. The appellant was Zerlan Estates, represented.