Tribunals · City of London Corporation · 2017 rating list

Part 1st Floor Woolgate Exchange, 25 Basinghall Street, EC2V 5HA

Offices and premises Decided 18 March 2025 CHG100392609 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—

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 RVs for seven hereditaments at Woolgate Exchange on the grounds that the unadjusted base rate of £485 psm was excessive. The dispute centred on whether rental evidence was in Category A or Category B condition and whether a £25 psm uplift should apply. The tribunal accepted that items 1-3 were let in Category B condition, rejected the VO's application of the full £25 psm uplift (applying only 1.5-2.5 months for minor works instead), and found the comparable assessments (particularly Finsbury Circus House at £425 psm) supported a reduction. The tribunal determined the base rate should be £425 psm, reducing the RVs.

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