10 TH FLR 199, BISHOPSGATE, EC2M 3TT
Offices and premises Decided 19 March 2025 CHG100401470 Altus Group - Oakland - Manchester/Ryan Property Tax Services UK Limited
Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 3 properties; the figures shown are for the first listed.
What was argued and what the tribunal found
The appellants sought a reduction in unit price from £510/m² to £440/m² for three office floors at 199 Bishopsgate, contending the valuations were unreasonable. The tribunal found that the rents agreed on the subject properties themselves, which were new lettings less than two years before the antecedent valuation date of 1 April 2015, provided the strongest evidence of value and supported the existing entries. Although Mr Smith presented comparable assessments in nearby buildings, the tribunal found these buildings were generally less modernised than the 2012-refurbished subject property and therefore the rental evidence from the subject building must carry greater weight.
Summary generated from the decision text and checked against it. The appellant was SAS Software Limited, represented.
Grounds argued
- Comparable assessments (tone) · decisive
- Rental evidence
- Evidence
- Rents, Settled assessments
- Cases cited
- Lotus & Delta Ltd v Culverwell (VO) and Leicester City Council [1976] RA 141; Gardiner & Theobold LLP v Jackson (VO) [2018] UKUT 0253 (LC)
- Hearing
- 24 February 2025
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