Station Road, Sidcup
Close

How can we help?

Please fill in this form and we'll get back to you as soon as possible.

Please enter your name
Please enter your email address
Please enter your telephone number
Please enter a question
Please let us know how you heard about us
Please enter the verification code

Court of Appeal Uses Real World Valuation Principles

An empty office block in Blackpool was given a rateable value (RV) of £490,000 by the local valuation officer, who made the valuation based on the expected rent for which the building could be let. The valuation was based on an assumed demand for a similar property.

The property market in Blackpool being saturated, the owner of the building considered that there was little chance of finding a tenant for it at all, so was unsurprisingly unhappy with the valuation. On appeal to the Valuation Tribunal, the RV was reduced to £1 and that in turn was appealed by the valuation officer to the Upper Tribunal, which restored the original valuation.

The next step was a hearing before the Court of Appeal. The Court restored the £1 valuation, concluding that in the absence of any evidence of any demand for the office block, there could be no legitimacy in a valuation which required an assumed demand to be hypothesised.

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.