OUTDOOR PLUS DIGITALADVERTISING RIGHT ENTRANCE TO HYDE PARK UNDERPASS, Knightsbridge, SW7 1SE
Advertising right and premises Decided 15 January 2024 CHG100851407 Montagu Evans - Richard Wackett
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 argued that a material change in circumstances arose from the proliferation of new digital advertising hoardings in the locality since the antecedent valuation date, seeking a 20% allowance to reduce the RV to £1,400,000. The tribunal dismissed the appeal, finding that whilst digital advertising has become more prevalent, the analysis was based on trends across Greater London rather than the specific locality around the subject property in Knightsbridge. The tribunal noted the subject site was unique, prime, and well-located, and found insufficient evidence that the increase in advertising rights specifically impacted its rental value.
Summary generated from the decision text and checked against it. The appellant was Primesight Ltd, represented.
Grounds argued
- Change of circumstances
- Change of circumstances
- proliferation of digital advertising hoardings
- Evidence
- Rents, Expert report
- Cases cited
- K Shoe Shops Ltd v Hardy; Gardiner & Theobald LLP v David Jackson
- Hearing
- 8 December 2023
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