Pt Level 6 (West) City Tower 40, Basinghall Street, EC2V 5DE
Offices and premises Decided 9 October 2025 CHG100398192 Knight Frank
Figures are as stated in the decision, and are values in the 2017 list; a dash means the document does not state that figure. This judgement decided 6 properties together; the figures above are for this appeal's property (PT LEVEL 6 (WEST), City Tower, Basinghall Street, London, EC2V 5DE). Every property is listed below.
The 6 properties in this decision
One judgement covered all of these appeals. Each property’s figures as the judgement states them (2017 list); this appeal’s property is highlighted.
| Property | Original RV | Sought | Tribunal decided | Outcome |
|---|---|---|---|---|
| LEVEL 20, City Tower, Basinghall Street, London, EC2V 5DE | — | — | £244,000 | Allowed in part |
| PT LEVEL 6 (WEST), City Tower, Basinghall Street, London, EC2V 5DEThis appeal | — | — | £149,000 | Allowed in part |
| GND & 1ST FLRS & SKYLIGHT, City Tower, Basinghall Street, London, EC2V 5DE | — | — | £840,000 | Allowed in part |
| GND & PT 1ST FLR & SKYLIGHT, City Tower, Basinghall Street, London, EC2V 5DE | — | — | £805,000 | Allowed in part |
| LEVEL 19, City Tower, Basinghall Street, London, EC2V 5DE | — | — | £248,000 | Allowed in part |
| LEVELS 6 & 7, City Tower, Basinghall Street, London, EC2V 5DE | — | — | £497,500 | Allowed in part |
What was argued and what the tribunal found
The appellants argued the RVs based on an unadjusted base rate of £475 psm were unreasonable and sought reduction to £435 psm, relying on rental evidence from the subject building and comparable settlement assessments of office buildings in the locality. The tribunal found the original rate was unsustainable and out of line with comparable assessments, but preferred an intermediate position. The tribunal determined that an unadjusted base rate of £450 psm was reasonable based on consideration of both the rents within the subject building (which required substantial adjustment to meet RV definition) and the basket of comparable settled assessments (ranging £375-£465 psm).
Summary generated from the decision text and checked against it. The appellant was St James's Place, Mewburn Ellis LLP, Salmon Limited, Porta Communications PLC, represented.
Grounds argued
- Comparable assessments (tone)
- Rental evidence
- Evidence
- Rents, Settled assessments
- Cases cited
- Gardiner & Theobald LLP v David Jackson (VO)
- Hearing
- 10 September 2025
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