Tribunals · City of London Corporation · 2017 rating list

PT 1ST F MITSUBISHI TRUST INTERNATIONAL, 24, LOMBARD STREET, EC3V 9AJ

Office and Premises Decided 22 March 2021 CHG100095877 CBRE - Elliot Jones

OutcomeDismissedThe appeal failed, leaving the value at the figure the Valuation Officer had already conceded.

Original RV£95,000

Ratepayer sought£57,500

VO conceded first£78,000−18% before the hearing

Tribunal decided£95,000

Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 4 properties; the figures shown are for the first listed.

What was argued and what the tribunal found

The appellant, represented by a surveyor, claimed a 12.5% reduction in the rateable values of four office floors at 24 Lombard Street to reflect disruption from adjacent building works at 30-32 Lombard Street, arguing material change of circumstances. The tribunal found that the major disruptive works had substantially ceased by November 2017, before the relevant material dates for the appeals, and that there was no new material change in the circumstances as defined by the regulations since works were already ongoing on 1 April 2017. The appeals were dismissed.

Summary generated from the decision text and checked against it. The appellant was Mitsubishi UFJ Trust & Banking Corporation, represented.