4TH FLR, 36-38 Leadenhall Street, EC3A 1AT

What was argued and what the tribunal found

The appellant sought to reduce the RV from £101,000 to £59,000 (equivalent to £350/m2), arguing for a higher allowance (22.5% vs 10%) for disturbance from nearby Scalpel building works and a 5% allowance for loss of natural light. The tribunal found that rents on comparable floors within the same building, particularly the 3rd and 6th floor lettings close to the AVD, supported a tone of £440/m2. The tribunal rejected the higher allowance for building works disruption as the works had progressed significantly by the 2017 material day, and dismissed the light loss claim as the impact on the 4th floor had not been adequately demonstrated, particularly given that a previous building had previously occupied that site without requiring such an allowance.

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

Grounds argued

• Comparable assessments (tone)
• Building works or disturbance nearby
• Quantum or end allowance

Evidence

Rents, Settled assessments, Expert report, Photographs

Cases cited

Lotus and Delta v Culverwell; Gardiner and Theobold LLP v Jackson

Hearing

21 August 2025

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