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[1] This is an appeal against a decision of a Valuation Appeal Committee dated 16 November 2005 relating to a retail warehouse at Strathkelvin Retail Park , Bishopbriggs, of which the appellant is the tenant.
[2] The assessor entered the subjects in the Valuation Roll with effect from 19 August 2004 at a net annual value and rateable value of �1,135,000. This being a new entry in an intermediate year, the valuation had to be made according to the tone of the Roll at the 2000 Revaluation (Local Government (Scotland) Act 1966, s 15). The appellant appealed against the assessor's valuation. The VAC refused the appeal.
[3] The subjects are of the "large box" type. They are close to the Glasgow boundary on a busy arterial road and are about 6 miles from the city centre. The appellant took entry to the subjects on 27 June 2004 on a 20-year lease at an initial rent of �1,275,000 pa , with a 20-week rent-free period and a premium paid by the landlord of �1,250,000.
[4] It is common for the landlord in such cases to give the tenant a reverse premium and A rent-free period at the outset of the lease. Rental evidence relating to such subjects is therefore not straightforward. There are few operators of retail warehouses of this size. They operate in their own marketplace. Rental evidence from other types of retail outlets is of little, if any, value as a guide (cf B & Q plc v Ass for Renfrewshire Valuation Joint Board , [2004] RA 220).
[5] There are ten other such warehouses in Scotland . Three are in Edinburgh , Dundee and Aberdeen and were disregarded for the purposes of this case. Of the others, three are in Glasgow , two are in Renfrewshire and two are in Lanarkshire. The parties valued the appeal subjects by reference to these comparisons on the basis of rates per square metre as at the tone date. These rates were derived from the rateable value and the so-called "reduced area" of the comparisons. All of these subjects had a reduced area within the narrow band of 9,548.86 sm to 11,360 sm.
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