PT 4TH FLR 10, QUEEN STREET PLACE, EC4R 1BE

What was argued and what the tribunal found

The appellant, a media and financial information company, sought to reduce the RV from £735,000 to £685,000 (initially to £585,000), arguing that the rate per m2 of £350 was excessive compared to comparable properties in the City of London. The tribunal found that the rent on the appeal property itself, analysing to £355.71/m2, was the best evidence and supported the current valuation when adjusted for fit-out costs. The tribunal accepted comparable properties within the same building but rejected external comparables as either in different localities or less recently refurbished, finding the £350/m2 rate reasonable in accordance with Lotus and Delta v Culverwell principles.

Summary generated from the decision text and checked against it. The appellant was MERGERMARKET T/A ACURIS GROUP, represented.

Grounds argued

• Rental evidence
• Comparable assessments (tone) · decisive

Evidence

Rents, Settled assessments

Cases cited

Lotus and Delta v Culverwell; Gardiner & Theobald LLP v David Jackson; Robert Dyas Holdings Ltd v Moore

Hearing

27 October 2025

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