Petronas Energy Trading Ltd, Petronas Energy Trading Ltd, EC4M 7AW
Offices and premises Decided 20 July 2026 CHG100695864 DWD
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 8 properties together; the figures above are for this appeal's property (9th Flr, 60 Ludgate Hill, London, EC4M 7AW). Every property is listed below.
The 8 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 |
|---|---|---|---|---|
| 1st and 2nd Flrs, 60 Ludgate Hill, London, EC4M 7AW | £2,230,000 | — | £2,230,000 | Dismissed |
| 1st & (Exc North) Pt 2nd Flr, 60 Ludgate Hill, London, EC4M 7AW | £2,070,000 | — | £2,070,000 | Dismissed |
| Pt 6th Flr, 60 Ludgate Hill, London, EC4M 7AW | £407,500 | — | £407,500 | Dismissed |
| 9th Flr, 60 Ludgate Hill, London, EC4M 7AWThis appeal | £675,000 | — | £675,000 | Dismissed |
| 4th Flr, 60 Ludgate Hill, London, EC4M 7AW | £1,130,000 | — | £1,130,000 | Dismissed |
| 3rd Flr, 60 Ludgate Hill, London, EC4M 7AW | £1,130,000 | — | £1,130,000 | Dismissed |
| 5th Flr, 60 Ludgate Hill, London, EC4M 7AW | £337,500 | — | £337,500 | Dismissed |
| 7th Flr, 60 Ludgate Hill, London, EC4M 7AW | £645,000 | — | £645,000 | Dismissed |
What was argued and what the tribunal found
The appellants challenged the rateable value of offices at 60 Ludgate Hill (One New Ludgate), seeking a reduction from £550 per m² to £535 per m². They relied on rental evidence from within the building and comparable assessments. The Tribunal considered rental evidence from five separate lettings within the building, ranging from £504 to £707.50 per m², and found that at £550 per m² the adopted price was not unreasonable, being supported by evidence above and below this level. The appeals were dismissed and the entries confirmed.
Summary generated from the decision text and checked against it. The appellant was Commonwealth Bank of Australia, represented.
Grounds argued
- Rental evidence
- Comparable assessments (tone) · decisive
- Evidence
- Rents, Settled assessments
- Cases cited
- Lotus and Delta v Culverwell; Gardiner & Theobald LLP v David Jackson
- Hearing
- 26 June 2026
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