RMBC, The Market,, OL16 1EB

What was argued and what the tribunal found

The appellant contended that a full income and expenditure approach should be applied to value the multistorey car park, relying on the operator's accounts showing a tone of £57 per parking space and seeking £50,000 RV. The VO argued the method was unreliable due to free parking being provided as an incentive to the shopping centre and non-comparable properties being used as tone evidence. The tribunal determined that a full income and expenditure approach was appropriate as the VO had not demonstrated rental evidence supporting the comparable assessments, and issued directions for further evidence. Following these directions, the parties agreed a revised RV of £60,500 with effect from 1 April 2017, which the tribunal ratified.

Summary generated from the decision text and checked against it. The appellant was REI Nederland BV, represented.

Grounds argued

• Valuation method · decisive
• Trading receipts (pubs, hotels)

Evidence

Trading accounts, Settled assessments, Earlier tribunal decisions

Cases cited

BNPPDS Limited & BNPPDS Limited (Jersey) as Trustees for Blackrock UK Property Fund [2022] UKUT 129 (LC); Wishart v Hulse (VO) [2018] UKUT 224 (LC); Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC)

Hearing

14 February 2025