Fife Regional Assessor v Distillers Company (Bottling Services) Ltd
Fife Regional Assessor v Distillers Company (Bottling Services) Ltd
- 1989
- Rating Appeals (1989) RA 71-106(19) .
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
BCIS
CONTRACTORS PRINCIPLE
DISTILLERY
INVESTMENT PROPERTY DATABANK INDEX
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
BCIS
CONTRACTORS PRINCIPLE
DISTILLERY
INVESTMENT PROPERTY DATABANK INDEX