VOA raises cold-store age allowances on 2026 rating page

The Valuation Office Agency has raised the maximum age-and-obsolescence allowances published for stand-alone cold stores on its Revaluation 2026 rating pageGOV. The revised table lifts the ceiling for every category from 2 to 8GOV: category 2 (late 1960s to mid 1970s) rises from 45% to 50%GOV, category 3 (late 1970s to early 1980s) from 35% to 45%GOV, category 4 (from mid 1980s) from 25% to 35%GOV, category 5 (early 1990s) from 20% to 25%GOV, category 6 (mid 1990s to 2000) from 15% to 20%GOV, category 7 (2000 to 2005) from 5% to 15%GOV, and category 8 (2005 to 2010) from 2.5% to 5%GOV. Category 1 stays at up to 50%GOV but its age band is reworded from “Pre 1970” to “Pre mid to late 1960s”; categories 7 and 8 also shift their band starts back by a year each, to 2000 and 2005GOV. Category 9 (2011 to date) remains at nilGOV. The retained 2023 appendix carries the same revised figuresGOV.

The allowances compensate for deterioration caused by sustained low operating temperatures in cold store areas, over and above what ambient warehouses of similar age experience. They apply only against cold store areas — never against chill stores or other clean and ambient areas — and each percentage is a maximum: valuers must have regard to upgrades and improvements to the chambers, such as enclosed loading bays, improved door closures, racking, replacement insulation panels or opened-out multi-chambers, when settling the allowance. The 50% overall ceiling stands, on the basis that cold storage values are underpinned by suitability for alternative ambient or chilled use and there is no rental evidence requiring further adjustment.

The scheme covers stand-alone cold stores in England and Wales valued by rental comparison. The local warehouse rental tone is adopted and enhanced to reflect the cold store elements: cold stores attract a 25% addition for chambers built for long-term frozen storage, and chill stores 15% for chambers holding chilled produce. Only the structure is rateable, so physically similar structures carry the same value whatever temperatures they are actually run at. Cold or chill stores forming part of a larger hereditament are outside this note — value factors of 1.3 and 1.15 respectively usually apply, with no age-and-obsolescence allowances — and temperature-controlled large distribution warehouses fall under a separate scheme.

For example, a 1980s-built chamber previously capped at 25% can now attract up to 35%GOV, and early-2000s stores move from a 5% cap to 15%GOV. Surveyors should check the category descriptions against each hereditament's actual age, specification and character, since construction dates are guidance only and occupiers adopted new specifications at different times.

Source: VOA Rating Manual, Cold stores (stand alone), practice note Revaluation 2026 with appendices; valuations are on a rentals comparison basis.