BST GND & MEZZ FLRS 83, GREAT TITCHFIELD STREET, W1W 6RH
Fitness centre and premises Decided 10 May 2024 CHG100819761 Altus Group - Oakland - Manchester
Figures are as stated in the decision; a dash means the document does not state that figure.
What was argued and what the tribunal found
The appellant contended the subject fitness centre property should be valued at £220/m2 on a gym valuation basis, arguing that major structural adaptations (changing rooms, showers, modified lighting and electrical) made it unsuitable for office use. The tribunal found that whilst the property had been adapted for gym use, the alterations were non-structural in nature and therefore the property should be valued rebus sic stantibus as an office, applying the established tone of £650/m2 for offices in the locality. The tribunal accepted that the subject lease rent, albeit from February 2017, supported the office-based valuation and dismissed the appeal, confirming the RV of £96,000.
Summary generated from the decision text and checked against it. The appellant was Ten Health & Fitness Limited, represented.
Grounds argued
- Comparable assessments (tone) · decisive
- Zoning or layout
- Evidence
- Rents, Photographs, Expert report
- Cases cited
- Lotus and Delta v Culverwell; Scottish & Newcastle Retail Limited & Allied Domecq Retailing Limited v R F Williams
- Hearing
- 15 April 2024
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