PT 2ND FLR EAST, 55, ST JAMES STREET, SW1A 1LA
Office and Premises Decided 3 February 2025 CHG100816450 Altus Group - Oakland - Manchester
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 on grounds that they were unreasonable and proposed reducing the unadjusted rate from £1,100/m² to £1,000/m². The tribunal found the rental evidence for the subject properties themselves, particularly leases agreed closest to the antecedent valuation date (1st and 4th floors at £1,051–£1,146/m²), strongly supported the current assessment. The tribunal concluded that the subject building was unique as a modern, newly-built Grade A development with premium specifications, and settlement evidence from other St James Street properties did not conclusively require a reduction given the distinctive nature of the subject property. The appeal was dismissed and the RVs were found reasonable.
Summary generated from the decision text and checked against it. The appellant was AlbaCore Capital LLP, represented.
Grounds argued
- Rental evidence · decisive
- Comparable assessments (tone)
- Evidence
- Rents, Settled assessments
- Cases cited
- Lotus & Delta v Culverwell and Leicester City Council; Gardiner & Theobald LLP v David Jackson
- Hearing
- 10 January 2025
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