Figures are as stated in the decision, and are values in the 2017 list; a dash means the document does not state that figure.
What was argued and what the tribunal found
The appellant's surveyor argued the 2017 Rating List RV of £480,000 (at £150/m²) was excessive and should be reduced to £387,000. The tribunal accepted rental evidence from a 2016 lease assignment at £439,500 per annum (adjusted with capital contribution to £387,000 market rent) and comparable lettings within the retail park. The tribunal found the original £150/m² main-space tone unreasonably high and determined that £120.50/m² ITMS was fairer and more reasonable, allowing the appeal and confirming an RV of £387,000.
Summary generated from the decision text and checked against it. The appellant was B & M Retail Ltd, represented.
Grounds argued
- Rental evidence
- Comparable assessments (tone)
- Evidence
- Rents, Settled assessments
- Cases cited
- Vines Ltd v de Mauny; Ladies Hosiery and Underwear Ltd v West Middlesex AC; Lotus and Delta v Culverwell
- Hearing
- 14 February 2023
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Decision of the Valuation Tribunal for Wales, published at valuationtribunalwales.net and reproduced unaltered. This site does not index the names of private individuals that appear in decisions. Information, not advice.