Scope
The scope of this Practice Note is solely to ensure a consistent valuation approach for this Property Class/ Subclass/ Type for Non Domestic Revaluation 2023 and subsequent entry in the new Valuation List which becomes effective on 1 April 2023.
The basis of valuation for new entries in the Valuation List, and Rating Revision cases after 1 April 2023, is Schedule 12 (2)(1) of the Rates (NI) Order 1977.
Description
This Practice Note refers to property classified by LPS as Advertising Stations and Signs:
Class: Advertising Stations and Signs
Sub Class: Advertising Station/Sign
Type: Bus Shelters, Free Standing, Wall mounted, Digital
Legislative background
Schedule 12 Part 1 Paragraph 1 of the Rates (NI) Order 1977 applies.
“Subject to the provisions of this Schedule, for the purposes of this Order the Net Annual Value of a hereditament shall be the rent for which, one year with another, the hereditament might, in its actual state, be reasonably expected to let from year to year, the probable average annual costs of repairs, insurance and other expenses (if any) necessary to maintain the hereditament in its actual state, and all rates, taxes or public charges (if any), being paid by the tenant”.
Under Article 67 of The Planning (NI) Order 1991, provision is made for the restriction and regulation of the display of advertisements in the interests of amenity or public safety. Such regulations may provide:
(a) for requiring the consent of the Department to be obtained for the display of advertisements; and
(b) for applying in relation to any such consent and to applications for such consent any of the provisions of Part IV or VIII of this Order or Part 111 of the Act of 1965 subject to such adaptations and modifications as may be specified in the regulations.
Article 84 deals with enforcement of planning permission in respect of advertisements.
Valuation approach for 2023
The Comparative method of valuation is to be retained as the approach for this type of hereditament.
The following definitions are widely adopted in the industry and are used by LPS for identification and referencing purposes:
- 48 Sheet Panels
- Prismatic Stations/ Lightboxes
- 96 Sheet Advertisement
- Banner displays
- Digital Advertisements
- 4 Sheet and 6 Sheet Panels
- Freestanding 6 Sheet Panels
- Revolving 6 Sheet Panels
- Digital 6 Sheet Panels
- Advertising on Bus Shelters (Adshels)
- Bus shelters with electronic or digital displays
- “One Off” Advertising Stations, Phone Boxes and Adboxes
There are 2 main standard sizes of panel favored by major companies – the 48 sheet and the 6 sheet.
- 48 sheet posters have considerable impact with both motorists and pedestrians
- 6 sheets are primarily aimed at pedestrians.
Standard sizes of hoardings are as follows:
| Width (m) | Height (m) | |
|---|---|---|
| 4 Sheet | 1.02 | 1.52 |
| 6 Sheet | 1.2 | 1.8 |
| 12 Sheet | 3.06 | 1.52 |
| 16 Sheet | 2.03 | 3.05 |
| 32 Sheet | 4.06 | 3.05 |
| 48 Sheet | 6.1 | 3.05 |
| 64 Sheet | 8.13 | 3.05 |
| 80 Sheet | 10.16 | 3.05 |
| 96 Sheet | 12.2 | 3.05 |
Rent and Lease Questionnaire
For this class of property Rent and Lease Questionnaires (RALQs) were not issued.
Contacts
For advice on any aspect of this Practice Note contact LPS on 0300 200 7801.