Further guidance has been provided to the market by the Upper Tribunal regarding rents for telecoms mast sites in
On Tower UK Limited v AP Wireless II (UK) Limited Re: Audley House (click here to find a copy of the full decision).
Notably, in making her decision Judge Elizabeth Cooke re-affirmed the Tribunal's position on the use and extrapolation of comparable telecoms transactions, describing it as "useless".
Whilst parties are capable of agreeing whatever terms they wish in a consensual negotiation, in the event that terms can't be agreed and the case is referred to Tribunal, it appears that rent will be determined against the backdrop of the 'Affinity Water table' (EE Limited and Hutchison 3G UK Limited v Affinity Water Limited [2022]). The Affinity Water table is not a 'one size fits all' rate card and the skill of the valuer will be to weigh the individual merits of their client's sites and determine an appropriate rent.
The rent or consideration determined in the Audley House judgment was as follows for the three ground based mast sites:
Audley House - £1,300 p.a. + alternative use value (of either £2,200 p.a. or nil - AUV yet to be determined by the Tribunal)
Port Talbot - £2,050 p.a.
Huntingdon - £2,100 p.a.
Should you require expert assistance with the valuation of the rent for your telecoms mast site, Loxley Maynard are happy to help. Feel free to contact us via enquiries@loxleymaynard.com.
By Richard Nelson MRICS - RICS Registered Valuer