UNIT SB 139A AT SOUTH BANK HOUSE, BLACK PRINCE ROAD, SE1 7SJ
Office and premises Decided 25 September 2025 CHG100816875 Altus Group - Oakland - Manchester/Ryan Property Tax Services UK Limited
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 in tone of value for main space from £355 per m² to £275 per m² based on comparable assessments at Albert Embankment and Graphite Square. The tribunal found the seven rental comparables within China Works (the subject building) provided strong, reliable evidence that the tone of £355 per m² was reasonable, as these properties were similar in size, proximity, and specification. The tribunal rejected the appellant's argument that Workspace Occupation Agreements were unreliable and gave little weight to the external comparables, which either lacked comparable proximity or differed materially in specification. The appeal was dismissed and the RV of £25,750 confirmed.
Summary generated from the decision text and checked against it. The appellant was Venture 1 Consulting Ltd, represented.
Grounds argued
- Comparable assessments (tone)
- Rental evidence
- Evidence
- Rents, Settled assessments
- Cases cited
- Lotus & Delta Ltd v Culverwell; Paymentsense Ltd v Valuation Officer
- Hearing
- 12 September 2025
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