Tribunals · City of London Corporation · 2017 rating list

11 TH FLR 199, BISHOPSGATE, EC2M 3TY

Offices and premises Decided 19 March 2025 CHG100401478 Altus Group - Oakland - Manchester/Ryan Property Tax Services UK Limited

OutcomeDismissedThe appeal failed and the rateable value was left unchanged.
Original RV£680,000£510/m²
Ratepayer sought£440
VO conceded first—
Tribunal decided£680,000£510/m²

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 across three office floors in 199 Bishopsgate. The tribunal found that rental evidence from lettings on the subject properties themselves, agreed less than two years before the antecedent valuation date, provided the strongest and most compelling evidence of value under the Lotus & Delta principles. Whilst comparable properties in nearby buildings showed lower valuations, the tribunal found the subject property was more recently refurbished (2012) than most comparables and that building-specific tone differences were justified. The tribunal was not satisfied the existing valuations were unreasonable and dismissed the appeals.

Summary generated from the decision text and checked against it. The appellant was SAS Software Limited, represented.

Grounds argued

  • Comparable assessments (tone)
  • Rental evidence · decisive
Evidence
Rents, Settled assessments
Cases cited
Lotus & Delta Ltd v Culverwell; Gardiner & Theobold LLP v Jackson
Hearing
24 February 2025

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