Tribunals · London Borough of Camden · 2017 rating list

PT 4TH FLR EAST (EXCL MEETING ROOMS) & 5TH FLR, PROSPECT HOUSE, 80 - 110, NEW OXFORD STREET, 80 - 110, NEW OXFORD STREET, WC1A 1HB

Offices and premises Decided 2 April 2024 CHG100797130 Cushman & Wakefield - Richard Proctor

OutcomeDismissedThe appeal failed and the rateable value was left unchanged.

Original RV£1,200,000£600/m²

Ratepayer sought£1,160,000

VO conceded first—

Tribunal decided£1,200,000£600/m²

Figures are as stated in the decision; a dash means the document does not state that figure.

What was argued and what the tribunal found

The appellant sought a reduction from £1,200,000 RV (at £600/m²) to £1,160,000 RV (at £575/m²) based on tonal consistency with other properties within the same building. The Valuation Officer defended the £600/m² base rate using rental evidence from comparable properties with new lettings around the antecedent valuation date of 1 April 2015. The tribunal found that the rental evidence of new lettings from 6th floor properties analysed at £608.40 and £623.41 per m² supported the £600/m² valuation, while the appellant's tonal evidence from other unresolved properties within the building carried less weight. The tribunal dismissed the appeal, finding insufficient substantiated evidence to demonstrate the current assessment was unreasonable.

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