LVAC 21 July 1988. Appeal by Assessor (F) against LT for Scotland decision determining the assessment of a whisky blending and bottling complex at nav £2,500,000, rv £1,500,000. F contended that the effective capital value of £118 psm applied to the duty free warehouses was insufficient and submitted a figure of £138 psm which when decapitalised at 7% as determined by LT the result did not fit with other comparables. F contended a decapitalisation rate of 8%. The ratepayers (D) also appealed, submitting a decapitalisation rate of 6%, claiming that any tenant of the premises would be of undoubted credit worthiness and would be able to borrow at advantageous rates. The court held: 1) there were no grounds for interfering with the effective capital value rate of £118 psm and 2) there were no grounds for interfering with the decapitalisation rate of 7%; LT were entitled to modify the 8% arrived at having regard to comparables. Also held that the fact that any tenant would be able to borr