Mando Group Part 4th Floor 5 St Pauls Square, L3 9SJ
Offices and premises Decided 6 September 2024 CHG100396080 CBRE
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 2 properties together; the figures above are for this appeal's property (Part 4th Floor 5 St Pauls Square, Liverpool L3 9SJ). Every property is listed below.
The 2 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 |
|---|---|---|---|---|
| Pt 5th (East) & 6th Flrs XYZ Building, 2, Hardman Boulevard, Manchester M3 3AQ | £640,000 | £510,000 | £595,000 | Allowed |
| Part 4th Floor 5 St Pauls Square, Liverpool L3 9SJThis appeal | £74,000 | £33,000 | £44,000 | Allowed |
What was argued and what the tribunal found
Shoosmiths LLP challenged the Valuation Officer's assessment of the 5th and 6th floors of XYZ Building in Manchester, arguing the RV of £640,000 (£225 per m²) was not reasonable based on a rental analysis at £179 per m² (£510,000). The tribunal found the Valuation Officer's approach to valuation of the Category B fit-out was flawed, as it amortized tenant fit-out costs to create an uplift without reliable market evidence. The tribunal adopted a Category A analysed rent of £195 per m² and applied a £15 per m² uplift for Category B fit-out to arrive at £210 per m², resulting in an RV of £595,000.
Summary generated from the decision text and checked against it. The appellant was Shoosmiths LLP, represented.
Grounds argued
- Rental evidence
- Comparable assessments (tone)
- Valuation method
- Evidence
- Rents, Expert report
- Cases cited
- Bunyan (VO) v Acenden Limited [2023] UKUT 17 (LC); Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC); Porter (VO) v Trustees of Gladman SIPPS [2011] RA 33
- Hearing
- 22 July 2024
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