Tribunals · London Borough of Merton · 2017 rating list

Unit 1 Priory Retail Park, 131 High Street, SW19 2PP

Retail warehouse and premises Decided 3 July 2024 CHG100884931 GL Hearn Limited - Star 2017

OutcomeDismissedThe appeal failed, leaving the value at the figure the Valuation Officer had already conceded.

Original RV£580,000£300/m²

Ratepayer sought£434,000

VO conceded first£482,500−17% before the hearing

Tribunal decided£482,500£240/m²

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 sought a reduction of the rateable value from £482,500 to £434,000 (£207.50/m2), arguing that the subject property's actual lease rent at £460,000 (£207.84/m2) demonstrated the existing valuation at £240/m2 was unreasonable. The tribunal found that whilst the lease rent was the starting point under Lotus and Delta, it required adjustment for inducements and subsidies and was not a "clean" rent. The tribunal placed weight on comparable properties including Unit 1 Plough Lane valued at £230/m2 and DFS Furniture at Shannon Corner valued at £235/m2, and found an established tone of value for this type of property. The tribunal dismissed the appeal, finding the existing valuation of £482,500 was not unreasonable.

Summary generated from the decision text and checked against it. The appellant was Dunelm (Soft Furnishings) Ltd, represented.