Waterstones, 39-41 Notting Hill Gate, W11 3JQ
Ground floor retail unit with additional retail and storage on first floor Decided 16 June 2025 CHG100961760 WSP Real Estate Services Limited
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 rent of £120,000 per annum agreed in September 2014 should be taken as the starting point for valuation, supporting a proposed RV of £123,000 (Zone A rate of £715/m² or overall £225/m²). The tribunal found that while the rent was a rent review (held less weight than a new letting), the evidence of comparable rents in the locality (£700-£1050 ITZA) indicated that the subject property's rent was out of line with the tone of the area. The tribunal disregarded any effect of planning applications on the rent, as the tenant retained full beneficial occupation of the premises. Accordingly, the tribunal confirmed the Zone A rate of £960/m² and RV of £164,000 as not excessive.
Summary generated from the decision text and checked against it. The appellant was Waterstones Booksellers Limited, represented.
Grounds argued
- Rental evidence
- Comparable assessments (tone) · decisive
- Valuation method
- Change of circumstances
- Change of circumstances
- redevelopment planning application
- Evidence
- Rents, Settled assessments
- Cases cited
- Lotus and Delta Ltd v Culverwell; Prodorite v Clarke; Dawkins v Ash Bros and Heaton Ltd; R v South Staffordshire Waterworks Co
- Hearing
- 22 May 2025
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