Pt 5th (East) & 6th Flrs XYZ Building, 2, Hardman Boulevard,, M3 3AQ
Offices and premises Decided 6 September 2024 CHG100528632 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 (Pt 5th (East) & 6th Flrs XYZ Building, 2, Hardman Boulevard, Manchester M3 3AQ). 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 3AQThis appeal | £640,000 | £510,000 | £595,000 | Allowed |
| Part 4th Floor 5 St Pauls Square, Liverpool L3 9SJ | £74,000 | £33,000 | £44,000 | Allowed |
What was argued and what the tribunal found
Shoosmiths LLP appealed the Valuation Officer's assessment of £640,000 RV for modern office space (5th and 6th floors) in Manchester city centre, proposing £510,000 RV (£179/m²). The tribunal analysed comparable Category A rental evidence and Category B fit-out value. The tribunal rejected the VO's amortisation approach for Category B fit-out costs and adopted a fixed uplift of £15/m² to reflect Category B value (rather than the VO's approach of capitalising actual fit-out costs). Based on comparable evidence yielding £195/m² for Category A, with the £15/m² adjustment, the tribunal determined £210/m² as the appropriate tone, 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 · decisive
- Comparable assessments (tone)
- Valuation method
- Quantum or end allowance
- Evidence
- Rents, Settled assessments, Expert report
- Cases cited
- Bunyan (VO) v Acenden Limited [2023] UKUT 17 (LC); Porter (VO) v Trustees of Gladman SIPPS [2011] RA 33; Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC)
- Hearing
- 22 July 2024
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