Case No. UKUT-311-(LC)-UTLC-Case-Number:-LC-2022-105

12.Before I deal with the rental evidence it is worth recording that the preferred methodology amongst valuers engaged in valuing racing stables is to devalue rents to a value per stable. Ancillary accommodation such as feed stores, offices and tack rooms, so long as they are proportionate to the number of stables, are reflected in the stable value. Mr Marriott said that it was common practice to apply a discount of 5 to 10% to American barns when undertaking valuations with comparables derived from traditional stables of brick or block construction. Mr Albert denied that there was a scale of allowances and commented that each case was judged on its merits.13.For the purposes of the 2017 Rating List Mr Albert said that horse walkers are agreed in England and Wales at £50 per compartment and grazing paddocks are similarly valued at £200 per acre. It should be noted that whilst the value of paddocks is relevant to the devaluation of the rent, they are exempt from rating. Mr Marriott was of the view that a typical grazing requirement was 0.5 acres per horse.14.It was common ground between the parties that the highest rate per stable was to be found in what Mr Marriott described as the ‘top racing centres’. By consensus these appeared to be Newmarket in Cambridgeshire, Lambourn in Berkshire, and Middleham and Malton in North Yorkshire. Other areas where trainers tend to locate include Epsom, Cheltenham and the counties of Oxfordshire, Sussex and Wiltshire. Mr Marriott considered that the presence of shared facilities such as gallops and a skilled workforce made it desirable to locate in these centres and this was reflected in the values achieved. Mr Albert said at the hearing that he had considered proximity to a racecourse was also an important factor in determining value. Mr Albert explained that the highest values were in Newmarket where £850 to £1,000 per stable had been agreed on the 2017 Rating List. He also provided a commentary on what he considered to be the 2017 List ‘tone’ in other locations as follows:Wiltshire = originally £675 (£600 on VTE Decision for subject property, £485 per stable (later amended to £470) requested by appellant, £630 by respondent) Oxfordshire = £750 (£630 would likely be accepted on challenge) Berkshire = originally £675 – reduced to £630 Hampshire = £675 Dorset = £550 Somerset = £525-£575 (near Wiltshire border) Cotswolds = originally £675 (£630 agreed on challenge) Warwickshire = £550The extent to which the tone for Hampshire, Dorset, Somerset and Warwickshire had been challenged was unclear, but Mr Albert did confirm that the tone in Wiltshire was only established in so far as the VTE had made a determination in respect of the property under appeal. There were no other Wiltshire agreements.15.Several of the rents referred to me by the experts were not on a fully repairing and insuring basis. It appeared to common ground between them that an adjustment of 5% was appropriate for a landlord’s repairing liability. Similarly, an adjustment of 3.5% has been adopted where the landlord is responsible for insurance.