Knight Frank, Woolgate Exchange, EC2V 5HA
Offices and premises Decided 18 March 2025 CHG100559432
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 rateable values of seven office properties in the 2017 rating list at Woolgate Exchange, contending that the unadjusted base rate of £485 psm was excessive. The Valuation Officer conceded a reduction to £460 psm during the challenge period, then the appellants sought £400 psm. The tribunal found the current valuations unreasonable and, after reviewing rental evidence from within the building, comparable property assessments, and considering the Acenden judgment on Category A/B fit-out distinctions, determined that an unadjusted base rate of £425 psm was appropriate, allowing the appeals in part with effect from 1 April 2017.
Summary generated from the decision text and checked against it. The appellant was University of Chicago Booth School of Business, represented.
Grounds argued
- Comparable assessments (tone) · decisive
- Valuation method
- Effective date
- Evidence
- Rents, Settled assessments, Earlier tribunal decisions, Photographs, Expert report
- Cases cited
- Lotus and Delta v Culverwell; Dawn Bunyan v Acenden Limited
- Hearing
- 20 February 2025
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