Co-Operative Group Ltd, 1 Fortescue Street, Norton St Philip, Norton St Philip, BA2 7PE

What was argued and what the tribunal found

The appellant (Co-Operative Group) argued that the rateable value should be reduced to £5,400, relying primarily on the rent passing of £10,000-£20,000 per annum agreed in June 2016 (analysed at £4,000 per annum over the first five years including the rent-free period). The tribunal found the subject rent was heavily incentivised with an unusually long rent-free period and agreed over a year after the antecedent valuation date, making it not conclusive. Comparable properties valued at £55/m2 to £130/m2 supported the existing valuation at £55/m2 being reasonable. The tribunal dismissed the appeal and altered the rateable value to £14,250 to reflect updated survey data.

Summary generated from the decision text and checked against it. The appellant was Co-Operative Group, represented.

Grounds argued

• Rental evidence
• Comparable assessments (tone)

Evidence

Rents, Settled assessments

Cases cited

Lotus and Delta v Culverwell

Hearing

2 February 2023

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