Tribunals · London Borough of Tower Hamlets · 2017 rating list

Basement, 126-128 Stepney Way, E1 3BG

Basement and premises Decided 14 December 2021 CHG100246591 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 that self-contained basements at three Stepney Way properties lacked services, had poor access and were uninhabitable for letting purposes, arguing for RVs of £0 or £1. The tribunal found that given the location, a market would exist despite limitations, and valued them by reference to a comparable basement property at 141-143 Cannon Street (£75/m²) adjusted by 50% (to £37.50/m²) to account for lack of services, inferior location, and poorer condition. Appeals were allowed in part with RVs set at £2,250, £1,350 and £1,300 respectively.

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