Unit F19 Asmount Business Park, Swansea Enterprise Park, Llansamlet, Swansea, SA6 8QR

What was argued and what the tribunal found

The appellant, represented by a surveyor, argued that the warehouse should be valued at £40/m2 based on a tone established from settlements on the same business park, particularly Unit F17 which had been settled at £40-£42.50/m2. The Valuation Officer had revalued using a recalibrated matrix scheme with a break point at 400m2 rather than the previous 250-500m2 range. The tribunal allowed the appeal to the extent conceded by the Valuation Officer (£16,750), accepting that the VO's recalibration of the matrix scheme was not properly justified by reference to the settlements achieved on the same development, and that £16,750 based on approximately £42/m2 was reasonable given the subject property's marginally-above-400m2 size and proximity to the £45/m2 band applied to smaller units.

Summary generated from the decision text and checked against it. The appellant was S K Sales Limited, represented.

Grounds argued

• Comparable assessments (tone)
• Valuation method · decisive

Evidence

Rents, Settled assessments

Cases cited

K Shoe Shops Ltd v Hardy; Lotus and Delta v Culverwell; Oldschool & Oldschool v Coll; BPP Holdings Ltd v Revenue and Customs Commissioners; Telereal Trillium v k Hewitt; Vines ltd v de Mauny

Hearing

26 April 2022

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