29, SPRINGFIELD LYONS APPROACH, CHELMSFORD BUSINESS PARK, CM2 5LB
Offices, laboratories and premises Decided 11 June 2025 CHG100965584 Ryan Property Tax Services UK Limited/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 argued the subject property, a converted industrial building with tenant improvements costing £2.74m, should be valued using a statutory decapitalisation rate of 4.4% resulting in an RV of £284,000. The tribunal found the property was effectively a new build following extensive works (roof and framework only remaining) and should be valued as an office building. The tribunal rejected the statutory rate as inappropriate outside a contractor's basis valuation and upheld the VO's 7% amortisation rate and £330,000 RV.
Summary generated from the decision text and checked against it. The appellant was Battelle UK Limited, represented.
Grounds argued
- Rental evidence
- Valuation method · decisive
- Comparable assessments (tone)
- Evidence
- Photographs, Expert report
- Cases cited
- Lotus and Delta v Culverwell; Bunyan v Acenden Limited; Gardiner & Theobald LLP v David Jackson
- Hearing
- 2 May 2025
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