Tribunals · City of London Corporation · 2017 rating list

2nd Flr Rooms, 2.10 & 2.11 At, 181 Queen Victoria Street, EC4V 4EG

Offices and premises Decided 28 February 2025 CHG101093760 Avison Young (UK) Ltd

OutcomeAllowed in partThe tribunal reduced the rateable value, but by less than the ratepayer sought.

Original RV£49,250£450/m²

Ratepayer sought—

VO conceded first—

Tribunal decided£46,500£425/m²

Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 47 properties; the figures shown are for the first listed.

What was argued and what the tribunal found

The appellant challenged the 2017 Rating List RV using an unadjusted base rate of £350 psm, while the Valuation Officer defended £450 psm. The tribunal heard rental evidence from comparable properties (71 Queen Victoria Street, 85 Queen Victoria Street, 128 Queen Victoria Street, and 68 Upper Thames Street) and settlement evidence. The tribunal found that 71 Queen Victoria Street (£450 psm in the list) was superior in build quality (2014 construction vs 1890 original) and therefore the RV of the subject properties was unreasonable. Applying a comparable properties analysis and weighing all rental and settlement evidence, the tribunal determined the correct unadjusted base rate to be £425 psm.

Summary generated from the decision text and checked against it. The appellant was Beaumont Business Centres Limited, represented.