Ice Cube 1 Northern Ticket Hall, Kings Cross Underground Station, Euston Road, Euston Road, N1 9AL
Retail unit and premises Decided 7 November 2024 CHG100936915 Colliers International - Tom Warren
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 challenged the assessment of £79,500 RV for a small coffee shop/retail kiosk (29.64 m²) at underground level in Kings Cross Underground Station, arguing for a reduced base rate of £1,000/m² based on rental evidence from comparable units in the immediate locality (Northern Ticket Hall). The VO defended £2,500/m² based on comparables from ground floor units at St Pancras and Kings Cross. The tribunal determined the appeal property should be valued using rental evidence from the immediate locality rather than ground floor comparables, as passenger habits and foot traffic patterns were substantially different, and allowed the appeal, reducing the assessment to £29,500 RV at £1,000/m².
Summary generated from the decision text and checked against it. The appellant was Gramos Ltd, represented.
Grounds argued
- Rental evidence
- Comparable assessments (tone)
- Evidence
- Rents
- Cases cited
- Lotus & Delta Ltd v Culverwell (VO) and Leicester City Council [1976]
- Hearing
- 11 October 2023
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