TRICO VE LTD, CASTLEFIELDS LANE, BD16 2AB
Factory and premises Decided 1 February 2024 CHG100915232 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 sought a 15% end allowance to reflect the high risk of flooding at the subject factory premises adjacent to the river Aire, which had flooded in 2000, 2002, 2012, and most severely in December 2015, causing £2.5 million in losses and making insurance impractical. The tribunal dismissed the appeal, finding that earlier flooding events (2000, 2002, 2012) would have been reflected in rental evidence at the antecedent valuation date and that flooding is a transient phenomenon, not a permanent change to the physical state of the locality; the tribunal also noted the December 2015 flood occurred after the material day and that comparable flood allowances cited by the appellant did not support an allowance for this specific property given its specific circumstances and the lack of allowances for similar nearby properties.
Summary generated from the decision text and checked against it. The appellant was Mariner Holdings plc, represented.
Grounds argued
- Quantum or end allowance · decisive
- Change of circumstances
- flooding
- Evidence
- Photographs, Expert report
- Cases cited
- Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC); Moore (VO) (2018) UKUT 0324 (LC)
- Hearing
- 12 January 2024
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