Tribunals · City of London Corporation · 2017 rating list

12th Floor, Aviva Building, St Helen's 1, St Helen's 1, EC3A 8EE

Office Decided 12 November 2020 CHG100031223 Savills - London

OutcomeAllowed in partThe tribunal reduced the rateable value, but by less than the ratepayer sought.

Original RV£462,500£500/m²

Ratepayer sought£425

VO conceded first—

Tribunal decided£437,500£435/m²

Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 3 properties; the figures shown are for the first listed.

What was argued and what the tribunal found

The appellant challenged the rateable value of its occupied office space, arguing for a rate of £425/m2 based on rental analysis of a new lease, citing comparisons with other City towers. The Respondent had reduced the original rate from £500/m2 to £460/m2 at challenge stage. The tribunal found that while the appellant's analysis of the new letting on the 13th floor was sound, the best evidence came from the new letting on the 4th floor (analysed by the VO at £431/m2), and concluded that £435/m2 was appropriate, being lower than the VO's £460/m2 but higher than the appellant's £425/m2, reflecting the prime location and building quality.

Summary generated from the decision text and checked against it. The appellant was Munich Re UK Services Limited, represented.