188体育

1.1 This instruction applies to all rateable racing stables.

1.2 This section does not cover premises used as riding and livery stables, stud stables, private non-domestic stables, point to point stables and polo grounds.

1.3 Locations

1.4 The training of racehorses stretches back over 400 years and, as the sport developed, certain locations grew as centres for the activity. The choice of locations stemmed from two main factors: proximity to racecourses and the suitability of the area for the training of racehorses, in particular the availability of suitable grass gallops. With the advent of all-weather gallops, training has changed and the need for large acreages diminished. Historically, the main centres for training are at Newmarket in Cambridgeshire, Lambourn in Berkshire and Malton and Middleham in Yorkshire. Other areas with a concentration of trainers include Epsom, Cheltenham, Oxfordshire, Sussex, and Wiltshire.

List description: Racing Stables & Premises

Primary description code: LX

SCAT code: 229

SCAT suffix: G

Bulk Class: M

3.1 The Animal & Rural Class Co-ordination Team (CCT) has overall responsibility for the co-ordination of this class.聽 Each Regional Valuation Unit (RVU) has a representative on the team.聽 The team is responsible for the approach to and the accuracy and consistency of racing stables.

4.1 RVU will be responsible for referencing, gathering facts and valuation.

4.2 The Animal & Rural CCT will deliver practice notes describing the valuation basis for revaluation and provide advice as necessary during the life of the rating lists.聽Caseworkers have a responsibility to;

• follow the advice given at all times 鈥� practice notes are mandatory,
• not depart from the advice given on check, challenge, appeal (CCA) or maintenance work without approval from the CCT, and
• seek advice from the CCT before starting any new work.

5.1 Trainers of racehorses vary from those with a permit who train a few horses for themselves and immediate family, to fully licensed trainers who may have more than 200 horses in training on behalf of many owners. In all cases they must satisfy strict requirements that they are suitably qualified to train racehorses and that their premises, known as a yard, meet the standards expected for the proper care of racehorses.

6.1 Inspections should be carried out in accordance with the Valuation Office Agency Property Inspector Manual.

6.2 Racing stables should be measured to Gross Internal Area (GIA) for rating purposes in accordance with the RICS Code of Measuring Practice 6th edition or its replacement.

6.3 When inspecting a racing stable, property inspectors should record the location and description of the racing stable to include the following:

• location
• site - size, shape, and topography
• buildings infrastructure - number and type of stables
• ancillaries 鈥� tack rooms, storage, arenas etc
• gallops 鈥� length, construction, and surface
• land 鈥� agricultural, turn out and domestic boundary
• services - heating energy source and water source
• car parking
• photographs of the main constituent parts of the site.

6.4 An inspection checklist is appended to this section (Appendix 1) and should be completed for all new properties, updated for maintenance work, and stored in the property folder of the Electronic Document Records Management (EDRM) system.

7.1 Rating surveys should be captured on the Rating Support Application (RSA). Plans and surveys should be stored in the property folder of Electronic Document and Records Management (EDRM).

7.2 Historically, many different sub-location codes have been used to value this type of property across the country. For revaluations 2026 onward, the national sub location of RACE should be used.

7.3 The common use codes used to record the various stables/boxes that may comprise a racing yard are outlined in the table below.聽 These should be recorded as units, e.g.,12 stables and not in square metres.

ACCOMMODATION USE CODE	DESCRIPTION	DEFAULT PERCENTAGE OF MAIN SPACE RATE (see section 8.4-8.7)	REMARKS
LBA	American Barn Stables	100%	Stables in purpose built or converted barn usually with a centre isle layout.
LBT	Timber Stables	100%	Stables situated outdoors and not in a barn made of timber.
LBB	Traditional Brick/Block Stables	100%	Stables situated outdoors and not in a barn made of brick/block.
LBC	Caged Stables	90%	Stables situated indoors.聽 Older style set up of stables.聽 These are accessed via narrow corridors with more limited light and air flow.聽 Not to be confused with American Barns.
LBL	Larger Stables 20m2 +	110%	Stables that are 20m2 or greater and are not foaling stables.
LBP	Pony Stable 10m2 or less	90%	Stables that are 10m2 or less, commonly used for housing ponies.
FOL	Foaling Stable	110%	Stable used for foaling 20m2+.
STA	Stalls	50%	Area to tie up horses/ponies.聽 Usually has divides either side of some form but no door.

7.4 Only stables or stalls should be captured as an accommodation use code.聽 Everything else should go in 鈥榦ther additions.鈥�

7.5 The common use codes used to record the various 鈥榦ther additions鈥� are outlined in the table below:

OTHER ADDITION USE CODE	DESCRIPTION	RECORDED IN
ARI	Indoor Arena	M2
ARO	Outdoor Arena	M2
ARF	Floodlit outdoor arena	M2
ARG	Outdoor grass arena	ACRES
BLD	Residual building	M2
CAF	Cafe	M2
CAR	Caravans (reflected)	M2
CVN	Caravans	M2
CHA	Changing room	M2
CLB	Clubhouse	M2
CNP	Canopy	M2
CNT	Canter way	UNITS
CVY	Covering yard	M2
DUT	Dutch barn	M2
DUR	Dutch barn (reflected)	M2
EVI	Additional eventing income	UNITS
GLG	Grass Gallops	ACRES
GLP	Polytrack all-weather gallops	FURLONGS
GLW	Non Polytrack all-weather gallops	FURLONGS
HWI	Indoor horse walker	NUMBER OF HORSES WALKER TAKES
HWO	Outdoor horse walker	NUMBER OF HORSES WALKER TAKES
ITRN	Indoor turn out (loose barn)	M2
JMP	Grass jump paddock	ACRES
JUD	Judges box	M2
LFG	Rough surface, fenced land	M2
LFH	Hard surface, fenced land	M2
LFU	Unsurfaced, fenced land	M2
LOG	Rough surface, unfenced land	M2
LOH	Hard surface, unfenced land	M2
LOU	Unsurfaced, unfenced land	M2
LUN	Lunge ring	M2
MES	Staff room/kitchen area	M2
OFR	Office (reflected)	M2
OFF	Office	M2
OWN	Owners room	M2
OUT	Outdoor seating space	M2
PIT	Caravan pitch income	UNITS
PKR	Portable building (reflected)	M2
PKN	Portable building	M2
POL	Polo pitch	HECTARES
SCR	Storage container (reflected)	UNITS/M2
SCN	Storage container	UNITS/M2
SEA	Water walker	UNITS
SHR	Shed (reflected)	M2
SHD	Shed	M2
SHL	Field Shelter	M2
SOL	Solarium	M2
SOV	Shop/retail area	M2
SPC	Spectators stand indoor	M2
SPO	Spectators stand outdoor	M2
STR	Store (reflected)	M2
STO	Store	M2
SWM	Equine swimming pool	UNITS
TCR	Tack room (reflected)	M2
TAC	Tack room	M2
TRN	Turn out paddock (not grass)	M2
WDI	Indoor wash down area	M2
WDO	Outdoor was down area	M2
WCB	Toilets	M2
WKR	Workshop reflected	M2
WKS	Workshop	M2
XC1	Substantial cross-country course	UNITS
XC2	Cross country course	UNITS

8.1聽The Notice Requesting Statutory Information (Form of Return) used for this class of property is typically VO 6003.

8.2 It is expected that sufficient direct evidence exists in the main training areas to enable valuations to be carried out on a rental basis.聽 Racing yards will generally comprise stables/boxes of varying types of construction, (brick, block, or timber), but analysis of evidence for recent revaluations has failed to show any significant differences in value for construction types.

8.3 Analysis of evidence

The analysis of evidence should be on an all-inclusive basis, to reflect tack rooms, food stores, trainers鈥� offices, rug rooms, maintenance storage and hay barns within box/stable prices.聽 This inclusive basis must be in proportion to the number of stables on site. Where any non-standard features exist, such as disproportionate sized offices or hospitality suites, these must be stripped out before the adjusted rent is divided by the number of stables/boxes.

The two main problems in analysis are the approaches to stripping out or apportioning the rent/value relating to domestic accommodation and areas of land.

The trainer or a member of his staff must reside on the premises, so it is not surprising that yards are often let including one or more dwellings. From the trainer鈥檚 point of view, the most important aspect is the number of stables which are available to him and, therefore, the size and quality of the residence is of secondary importance. Valuers should be aware that stripping out the full rental value of domestic accommodation, (if based on other non-composite dwellings within the locality), may not be appropriate.

Apart from the land upon which the yard stands, it is rare to find any substantial areas of land with a racing yard, except in the case of some of the large historic training centres. These are usually freehold occupations so the problem is unlikely to arise. However, where there is land with a yard, consideration should be given to stripping this out of the rental value.

It is recommended that advice on analysis and adjustment is sought from the Class Coordination Team where rents include amounts for domestic accommodation or land.

8.4 Stables

The stable is a very important part of any training yard. During the racing season a racehorse will usually spend much of its time stabled, from which it is exercised daily.

Construction and layout of stables will vary, often within a yard. The traditional boxes will be brick built with a pitched tile roof with an overhang to provide shelter from the weather and may form four sides around an open quadrangle. Some of the older yards have what are termed 鈥榗aged boxes鈥� where a run of boxes and a 鈥榗orridor鈥� are within the structure of the building providing full protection from the elements but often at the expense of access difficulties. A modern version of this is the 鈥楢merican barn鈥� arrangement where typically a large 鈥榓t cost鈥� type barn will be divided up by block partitions to have boxes running the length of both of the longest walls with back-to-back boxes down the middle of the barn.

These barns will often be open ended to provide the proper ventilation necessary to prevent the spreading of infections.

8.5 There may need to be an addition of up to 25% on 鈥榓verage/ standard鈥� stables to reflect additional quality/size benefits.聽 It would be expected that the maximum 25% addition would be appropriate for those stables which have additional outdoor pens attached to them.

8.6 Similarly, a discount from the 鈥榓verage / standard鈥� rate may be justified where the stabling provides a particularly low standard of accommodation compared with the average. For example, smaller pony stables or stalls.

8.7 Outdoor timber stables will not be discounted simply because of their construction. However, a discount from the standard rate maybe applicable for quality reasons following an exercise of valuer judgement.

8.8 Gallops

The training of racehorses requires availability of suitable gallops, although it is not necessary for the training yard to own or聽lease聽gallops. In most of the main centres, substantial gallops are owned by a single estate and trainers pay a fee per horse based on usage. Many trainers do however prefer the convenience and privacy of their own private gallops, where space and costs permit. Some horses may have to walk as much as a mile to reach the gallops, but this time is useful in itself as warm-up exercise and should not be seen as a value significant disadvantage.

To the uninitiated, grass gallops may seem nothing more than a strip of grass which may run for a mile or more along the side of a track or road and, possibly, adjoining arable or meadow land. Good grass gallops take from 8 to 15 years to create and involve the removal of all stones or similar sharp objects. The gallops are sown with a mixture of moss and special grasses, grown to a density not found in the average garden or meadow, to provide a thick 鈥榗arpet鈥� on which it is safe to gallop a thoroughbred racehorse without it risking an injury which could end its career. There is no dispute that a good grass gallop, such as the Golden Mile at Newmarket, is the best surface on which to train a racehorse. However, grass gallops can vary considerably.

On the basis that a piece of ground is not worked on two days in succession, needing 2-3 weeks to recover, the groundsman lays out a strip for use each day. Because of this a large acreage is needed.

Land which slopes slightly uphill is the best because there is less concussion on the horses鈥� legs and it provides progressive loading.

Space to 鈥渕arshal鈥� the horses before starting and room to pull the horses up after completing the work are two highly important factors.

The soil and sub-soil are also very important. Clay and sand are less suitable sub soils for gallops with, a drained loamy soil being preferred. However, what makes a good winter/spring gallop does not make a good summer gallop where moisture retention is important. Newmarket has numerous pieces that accommodate the various seasons.

Not surprisingly, then, grass gallops require considerable maintenance including rolling and cutting and the replacements of divots. As a result, they are costly to maintain.聽 Value will be per acre.

8.9 All-Weather gallops

All-weather gallops have been in use since the 19th century, but their popularity has surged in the last 30 years or so. Although some trainers still prefer to use traditional grass gallops, there has been a steady increase in the use of all-weather gallops in recent years. Having been constantly improved over the years, they are now frequently used by top trainers, either through choice or because they have restricted access to grass gallops.

Winter weather can result in grass gallops becoming muddy due to heavy rain or, even worse, hard, due to frost, ice or snow. Similarly, they cannot be used in the summer if they lose their 鈥済ive鈥� during prolonged spells of dry weather.

The key to a successful all-weather gallop is drainage 鈥� heavy rainfall must be able to soak through the top surface without ponding 鈥� and although top surfaces vary, the basic method of construction is the same. A trench of suitable width is dug to an approximate depth of 45cm to 50cm聽 and rainwater drains installed in the bottom. On top of the drainage system is compacted a 25cm 聽layer of hard stone, as this does not break down when the all-weather gallop is in use and cause the drains to clog. A porous membrane is laid on top of the stone to prevent the top layer from mixing with the chosen top surface layer.

There are four main types of all-weather gallop top surface:

1. Sand

The best all-weather gallops have a top layer, about 22cm 聽deep of special sand often containing crushed seashells. This particular mixture does not compact. Deep sand makes horse work particularly hard and is good for building up stamina and muscle.

Compaction and wind-blow are the main problems with sand gallops.

2. Wood chip

This was one of the first all-weather gallop surfaces and is still very popular with trainers, as it is kind on horses鈥� legs. Woodchip is very free draining, but daily maintenance (harrowing and rolling) is important.

3. Fibres and equitrack

These are enhancements of sand gallop using fibres/oil emulsion to reduce the problems associated with sand.

4. Polytrack

A plastic particle-based track, said to be easy to maintain.

It must be remembered that gallops differ. The ideal is about a mile with a steady up-hill incline, although most gallops will be between 5 furlongs (1000 metres) and a mile (1600 metres).

All-weather gallops will vary from trainer to trainer, depending upon the amount of land available and the nature of the terrain.

Some trainers may use a homespun arrangement of rotavated sandy land. This is generally unacceptable, often dangerous and of modest value, when compared to better quality examples.

8.10 The valuation, per furlong, of all-weather gallops within the same聽hereditament聽as a racing yard, should be based on prevailing unadjusted box/stable values within the locality as follows:

6% uplift for Polytrack

3% deduction for non Polytrack

8.11 Deductions to these rates 聽due to damage or flooding of gallops should be considered under the normal repair principles.

8.12 Common ancillaries

All but the smallest of yards will have a range of ancillary buildings that will include a tack room, feed store and hay store.

A secure tack room is essential for the safe keeping of saddles, related equipment and racing silks. In larger yards there may well be more than one tack room and separate rooms for rugs, blankets, and silks. Similarly, there are usually laundry and drying rooms in larger yards.

Every yard will have a feed room for the storage and preparation of the special feedstuffs that are necessary for a racehorse鈥檚 well-being. The diet of each horse has to be strictly controlled to ensure that it does not consume any illegal substances that might cause it to fail a dope test. Such tests are carried out on all winning racehorses (and on others randomly), so records and samples of feedstuffs must be kept securely.

Whilst in a small yard the training operation may be run from a room in the trainer鈥檚 residence, many yards have a separate office. There is an enormous amount of administration involved in running a racing yard including the making of entries declarations to run, the booking of jockeys to ride the horse and the making of arrangements for the transportation of horses to courses which may be anywhere in Britain, Ireland, the rest of Europe, America or even Australia and the Far East.

8.13 Tack rooms, hay/bedding stores, rug rooms, yard maintenance stores and trainers鈥� offices should all be shown in the valuation.聽 These items will be considered as being reflected in the box/stable value, and shown as a nil value, but only in proportion to the number of stables on site.

8.14 Many yards will have CCTV or other security systems installed for monitoring the health and well-being of the horses as well for security protection.聽 These should be valued.

8.15 Additional features

Additional features found in racing yards will not form part of the box/stable value but will be added into the valuation as an 鈥榦ther addition鈥�.聽 Some common items are:

8.16 Horse walkers

It is commonplace for yards to use automatic horse-walkers, allowing numerous horses to be exercised at the time whilst saving on labour costs. Generally, these they are circular enclosures between 10m-20m diameter and must have a stabilised base (often concrete) for the horse to walk on; they may have permanent walls and a roof, and 鈥榩addles鈥� on the rotating arms to ensure that the horse moves around the walker. They are built in various sizes and designs but all operate by means of an electric motor that is designed to cut-out in the event of the horse stopping. Horse walkers with an earth base and rotating arm gear from a central electric motor will probably be modest in value terms, but those with a concrete base do have demonstrable value. The electric motor and turning frame are not rateable. Horse walkers will be valued by the number of horses the walker takes.聽 For indoor walkers, additional value would be added for the building as a separate entry in the valuation.聽 The area of the walker should not be removed from this.

8.17 Barns - schools

Some trainers have utilised large old agricultural barns and turned them into 鈥榠ndoor schools鈥� in much the same way as riding school operators. They are used by trainers for 鈥榖reaking-in鈥� young horses, familiarising them with starting stalls or light exercise following injury. As such, they are not likely to be used very often and their value is considerably less than a similar building used by a Riding School.聽 Value varies depending on the quality of the building.

8.18 Purpose built indoor arenas

Generally, about 800m2 in size, portal frame construction under an asbestos or profiled metal sheet roof, probably with slatted sides and kick boarding to 1.8m height. Most will have basic lighting and a sand or equitrack base. Some may have sprinkler or other watering facilities. Value varies depending on the quality of the building.

8.19 Covered rides or canter ways

These provide a covered all-weather 鈥榞allop鈥� or canter of at least 300 metres and are usually circular or oval in shape The length will govern the speed at which horses can be exercised so in most cases they will only be used for light canters. They are a useful facility for horses returning from injury, horses that have to be worked alone and when the weather is inclement.

Typically, a canter way would be 4m wide with a mono pitch canted roof, kick boarding to 1.8m both sides, and with a 2m Perspex type draught excluder to give protection from the wind. A basic standard track will be sand base, but the better tracks are now surfaced with equitrack. Such covered rides will usually be illuminated, and some are watered with permanent sprinkler systems. Value will be per canter way.

8.20 Equine swimming pools

As an addition to grass and all-weather gallops, swimming pools provide a valuable alternative means of getting horses fit. They are especially useful in the case of horses returning from leg injuries.

One type provides a simple underwater treadmill, which the horse is led into and allowed to walk on, thereby limiting the strain on its legs due to the reduced effective body weight. This will be no more than 10 metres long, including ramps at either end, so it can be housed in a relatively small building.

More substantial pools comprise a ramp down into either a circular or oval shaped pool, where the horse can swim assisted by stable hands on each. Not surprisingly, these pools require a much larger building and will be more expensive to build.

Value will be per pool.聽 For indoor pools, additional value would be added for the building as a separate entry in the valuation.聽 The area of the pool should not be removed from this.

8.21 Access/Location allowances

The unadjusted stable/box value will take account of the location of the site.聽 Stables are commonly located in rural areas and claims for an allowance for being located here, with single track roads or near agricultural establishments should be resisted.

8.22 Quantum allowance

The quantum scheme for racing stables starts聽 with a 5% allowance being adopted to the 45th stable/box and increases by 0.5% for each further stable until a maximum of 25% is reached.

8.23 Relativities

Relativities may require tuning to reflect individual circumstances following the exercise of valuer judgement.

Rating Support Application (RSA)

Survaid

Valuation Panel 1 (VP1) animal and rural class co-ordination team (CCT) members

SharePoint guidance for G class suffix

1. Market appraisal

1.1 Horse racing continues to be popular, although within the UK the industry is impacted by a relatively small-scale prize fund when compared to other countries such as Ireland and France. New statute has gone some way to addressing this in that the Horserace Betting Levy Regulations 2017 (SI2017/589) introduced a revised levy system taking effect from 25 April 2017, which increased prize money in 2018 to 拢160 million, from 拢95 million in 2012. This legislation ensures previously lost revenue is now captured from bets placed online and offshore, which will benefit all those involved with the sport including trainers who typically receive a percentage of winnings. Increased returns are being targeted on the lower and middle tiers of the sport.

1.2. In recent years physical attendance at race meetings has been adversely impacted by imposed COVID restrictions. However, the popularity of online betting continues to increase with statistics showing continued growth since the last Antecedent Valuation Date.

1.3 The industry reports a gradual decline of the numbers of horses in training, stating a reduction of around 2.5% per annum over the last 5 years, which is in part due to competition from a highly competitive entertainment sector. This change in demand impacts both horse racing and breeding operations.

1.4 Approximately a third of Britain鈥檚 trainers are based in or around the major training centres of Newmarket, Lambourn, Epsom, Middleham and Malton. These locations are extremely reliant on the industry in terms of both direct and indirect employment. There is evidence of continued investment to improve facilities within these major centres. Significant foreign investment from the Middle East continues, particularly in and around Newmarket, with such facilities normally being large scale and of a high standard.

1.5 Yards located outside these centres are less likely to have benefitted from such improvements and have restricted access to communal facilities such as public gallops or on-site veterinary services. The additional cost of transportation and other disadvantages should also be considered when valuing remote sites.

2. Changes since the last practice note

2.1 There are no significant changes in approach, although to ensure consistency across the network, it is vital that advice is sought from CCT members when undertaking adjustment and analysis of rental information.

3. Ratepayer discussions

3.1 Ongoing discussions are taking place with industry representatives.

4. Valuation scheme

4.1 There is no agreed scheme for this class.

4.2 Box (or stable) values are determined by prevailing rental levels within any locality and are generally used as a 鈥榰nit of comparison鈥� for yards where no direct rental evidence exists. It is acknowledged that in some regions outside the major training centres, rents may be limited or require such significant adjustment to hold little weight. It is therefore vital that initial analysis and adjustment is overseen by the Equine Class Coordination Team.

4.3 Box values reflects the presence of a number of other additions such as tack rooms, trainers offices, workshops, stores and hay barns as these are required for any yard to operate but do not generally tend to add to the value. Additional facilities that improve the yard as a training enterprise should however be valued, these will include horse walkers, gallops (all weather and grass), equine pools and buildings housing treadmills (not this is not an exhaustive list and guidance should be sought from the CCT in case of queries).

4.4 To ensure consistency, advice should be sought from the Class Coordination Team on appropriate deductions to be made when stripping out domestic accommodation for the purposes of rental analysis. In order for a trainer to be granted a license, there is a requirement for either them/ or a nominated responsible employee to either live on site or within close proximity of the racing yard. Information should be sought the type/ style of dwelling occupied as it could potentially range from a mobile home to a substantial dwelling. Details should also be sought as to other accommodation on site, such as groom鈥檚 quarters.

4.5 For analysis purposes, land rental values should be adopted within the range of 拢150 to 拢460 per acre. Regard should be had to local demand, size and quality (for example sloping site/ suitability for grazing). Conversely for valuation purposes, where such land is used as grazing/ pasture, it will be treated as exempt under Schedule 5 of the Local Government Finance Act 1988.

4.6 Values for private gallops (as opposed to public/ shared facilities) should have regard to prevailing box values, which reflect location differences as determined by the Upper Tribunal (Lands Chamber) in Hobbs v Gidman (VO) [2017]. Values are dependent on the type of surface, which ranges from grass to all-weather poly-track. Advice must be sought from Class Coordination Team members in this aspect.

4.7 National tables for 鈥榦ther additions鈥� not reflected within box prices, have been devised to ensure consistency. Values are based on replacement costs, then amortised to produce an annual equivalent. It is acknowledged however that in limited circumstances further adjustment may be required to reflect quality and other specific factors.

4.8 Class Coordination Team members should be approached when dealing with both Check, Challenge, Appeal and maintenance work on this class.

1. Market appraisal

As an industry horse racing has weathered the worst effects of the economic downturn. This is due in part to the loyal racing fraternity, in addition to the fact that British Racing has extended links with the betting industry, broadcasting and sought improved sponsorship deals. An increased use of media and 鈥榦n line betting services鈥� has attracted new customers into the sport as an alternative to the more traditional betting shops or 鈥榬ace day meetings鈥�.

Since 2008 the number of professional licensed trainers in Britain has decreased by approximately 6% to current levels of around 550. This number is supplemented by over 100 registered 鈥榩ermit holders鈥� who train on a more amateur basis, often for Point to Point or hunter chase contests.

The number of horses in training has declined from a peak of 15,349 in 2008 to present day levels of 13,716. This is accords with the reduced numbers of owners which has dropped 14% since 2008. As a result of the economic downturn, sole ownership of racehorses has dropped. The largest decline is of owners with one or two horses in training, research shows that owners at the upper end of the scale (with multiple horses in training) are more resilient to the economic downturn. Shared interests, or syndicates/ racing clubs now form 60% of all racehorse ownership - which has the benefits of sharing expenditure across a number of individuals.

These reduced numbers clearly have an adverse impact on the number of racing yards and the commercial viability of those remaining. Numbers of yards training more than 100 horses have remained relatively static and in many cases increased their number of horses. Conversely smaller operations which often rely on other forms of income to supplement revenue, such as agriculture are relatively unchanged. It is the mid-ranking yards which have suffered most from the effects of the recession. To reduce costs, many of these have now amalgamated and share facilities/ staff etc.

Approximately a third of Britain鈥檚 trainers are based in or around the major training centres of Newmarket, Lambourn, Epsom, Middleham and Malton. These centres are extremely reliant on the industry in terms of both direct and indirect employment. Significant investment has been made over the last decade to improve facilities within these major centres.

Yards located outside these centres are less likely to have benefitted from such improvements and have restricted access to communal facilities such as public gallops or on site veterinary services. The additional cost of transportation and other disadvantages should also be considered when valuing remote sites.

2. Changes since the last Practice note

There are no significant changes in approach, although to aid consistency across the network, advice on analysis and adjustment is reemphasised within Section 4 of this practice note.

3. Ratepayer discussions

Discussions are taking place with industry representatives and further advice will be issued if there are significant developments to report.

4. Valuation scheme

There is no agreed scheme for this class.

The purpose of this practice note is to provide costing information and other valuation material appropriate for this class of property in respect of the R2017 Revaluation. This PN should be read in conjunction with the main section.

For analysis purposes, land rental values should be adopted within the range of 拢120 to 拢200 per acre. Regard should be had to local demand, size and quality (for example sloping site/ suitability for grazing).

Recently acquired evidence in respect of gallops supports significant increases for this element of the valuation compared to levels of value typically applied in the 2010 Rating List. Gallops should be valued in accordance with the 鈥�2017 Cost Guide鈥�. The resultant cost should then be amortised at 4.4% for England and 3.8% in Wales, as an interim measure until the higher decapitalisation rate for R2017 is known.

When stripping out residential accommodation for analysis purposes, it is incorrect to deduct the full 鈥榦pen market value鈥� of comparable dwellings. An adjustment is required to reflect that rent paid on the domestic part will be lower as it forms part of a larger commercial operation. Moreover, any comparable residential rent will not be arrived at on the same basis i.e. residential lettings require the landlord to carry out external and internal repairs, regular inspection of electrical and gas installations and higher landlord鈥檚 insurance costs.

In the absence of better evidence a judgement needs to be made on the facts of the amount to be deducted from the residential element, to reflect any disadvantage of being sited within a commercial operation, for example a 50% deduction may be appropriate. This should reflect these matters together with any planning restrictions in place or noise/ disruption from the adjacent commercial activity.

It is acknowledged that in some locations rental evidence may be limited or require significant adjustment for this class. To ensure a consistent approach across the network, analysis and adjustment has been undertaken by the Class Coordination Team.

The unit CCT member should be approached when dealing with both maintenance and settlement of this class.