Tribunals · City of London Corporation · 2017 rating list

Pt 6th Flr Rear, 7th & Pt 8th Flr Rear, Woolgate Exchange, 25 Basinghall Street, 25 Basinghall Street, EC2V 5EY

Offices and premises Decided 18 March 2025 CHG100309756 Knight Frank - Nick Bell

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

Original RV£228,000£485/m²

Ratepayer sought£228,000

VO conceded first—

Tribunal decided£228,000£425/m²

Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 7 properties; the figures shown are for the first listed.

What was argued and what the tribunal found

The appellants challenged the 2017 Rating List valuations at Woolgate Exchange, contending the unadjusted base rate of £485 psm was unreasonable. The dispute centred on whether internal rents were Category A or Category B condition lettings and whether a £25 psm uplift should apply. The Tribunal found the current RV unreasonable and, on the balance of rental evidence within the subject building and comparable assessment evidence (particularly Finsbury Circus House reduced to £425 psm), determined the correct unadjusted base rate should be £425 psm rather than the VO's reduced offer of £460 psm or the appellants' sought £400 psm.

Summary generated from the decision text and checked against it. The appellant was University of Chicago Booth School of Business, represented.