Self storage hereditaments

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Valuation Office Agency

October 9

15:02 2024

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These instructions are concerned with the assessment of self-storage hereditaments which take the form of modern warehouse conversions or to purpose built buildings designed to provide a wide range of secure self-storage facilities.

Early self-storage units were developed from standard warehouse units by the addition of extra floors and individual secure areas. Increasingly modern purpose-built centres are being constructed to a high standard with security features and strategically located. Typically, such buildings may be used for domestic and business storage both for short term and longer periods.

This scheme does not cover sites set up to allow individuals and companies to purchase individual units (pods) within the warehouse for investment purposes where the individual units are sold by granting long leases (to individuals or companies known as unit owners or investors). This is significant. as part of the arrangement, unlike the short-term rental model, means that the leaseholder of a unit has overriding rights.

2. List description and special category code

Primary description code: CW2
List description: storage depot and premises or self storage facility and premises
Scat code: 721
Suffix: G

3. Responsible teams

3.1 The valuation and referencing of this class of property is the responsibility of the Non-Domestic Rating Unit.

3.2 The Class Co-ordination team will be available to give advice.

4. Co-ordination

The Class Co-ordination team and the Industrial Valuation Panel have responsibility for this class ensuring effective co-ordination across the business units. The team are responsible for the approach to and accuracy and consistency of Self Storage Hereditament. The team will deliver Practice Notes describing the valuation basis for revaluation and provide advice as necessary during the life of the rating list. Caseworkers have a responsibility to:

follow the advice given at all times
not depart from the guidance given on appeals or maintenance work without approval from the co-ordination team
seek advice from the co-ordination team before starting any new work

5. Legal framework

Planning

Planning authorities take differing views on whether the category falls within Use Class B8 or Sui Generis. This appears to depend on the likelihood of regular access to the hereditament by members of the public the more regular the public access, the more likely it is to be treated as sui generis.

6. Survey requirements

6.1 Survey data - capture

Hereditaments should be measured to Gross Internal Area (GIA) as defined in the VOA Code of Measuring Practice.

Warehouse units that are separate from the main building, with direct external access for customers, should be captured as main space WHS, as a separate line entry. Other types of accommodation such as reception and office areas should be captured as separate line entries using the appropriate accommodation use code, in accordance with the guidance in VSA standards. Where two or more areas of the same type of accommodation are physically contiguous, those areas should be recorded as a single line entry. Where there are temporary buildings, cabins, and/or storage containers (SCN) etc. located on ancillary land, then the area of this land must not be deducted. The value of the temporary buildings and/or storage containers and the like, must be added in addition to the land value. Depending on the circumstances, this can be done in the valuation either by a suitable line entry or by using other additions. Other additions is the preferred approach. The prices per unit for storage containers (SCN) will need to be input manually. For the 2017 list use 72 and for 2023 80 per standard 20ft container (2.44m x 6.10m).

For the 2026 list apply 95 for a single standard 20ft container (2.44m x 6.10m), and 140 for a single large 40ft container (2.44m x 12.2m)

For the 2017 list use 72 for a standard size container and, for the 2023 list, use 80.

6.2 Accommodation use codes:

Code

Default text

Purpose

WHS

Warehouse

Main space in both main building and units with external access.

REC

Reception / Entrance

Reception, Entrance and Waiting areas

OFF

Office

Best quality office accommodation commensurate with the age and type of the hereditament, superior to ANO.

ANO

Office

Inferior to main office space (OFF), usually with direct access to warehouse space.

ASI

Internal storage

Store rooms which are not included in the main space area.

ASO

External storage

Store or stores with external access only. If there is internal access to main space, use ASI.

BAY

Loading Bay

Part of building(s) used for the transfer of goods and supplies but otherwise no different to main space. A construction allowance may be needed for an inferior open fronted loa

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