PT 7TH FLR (SOUTH), BLUE FIN BUILDING, 110, SOUTHWARK STREET, SE1 0SU

What was argued and what the tribunal found

The appellants challenged the rateable value entries for two office hereditaments in the Blue Fin Building, arguing for a reduction in the tone applied from £490/m² to £460/m² or £450/m². The tribunal accepted that while quantum effects (size-based valuation differences) may apply in some office buildings, the evidence from the subject building did not clearly demonstrate this principle—the larger offices did not consistently value lower than smaller ones. The tribunal found the rents in the building did not support the VO's analysis, rejected the disputed £25 uplift applied to the second-floor rent, and noted that an earlier tribunal panel had allowed similar appeals in the same building at £460/m². Comparing to the nearby newer building (240 Blackfriars Road) where equivalent office space was valued lower, the tribunal determined £460/m² was reasonable for both subject properties.

Summary generated from the decision text and checked against it. The appellant was Mediaocean Systems Ltd and Crown Agents Limited, represented.

Grounds argued

• Comparable assessments (tone)
• Rental evidence
• Valuation method

Evidence

Rents, Settled assessments, Earlier tribunal decisions

Cases cited

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

Hearing

16 June 2025

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