PT L2 (EAST) ATRIUM BUILDING CANNONBRIDGE, 25 DOWGATE HILL, EC4R 2SU
Offices and premises Decided 7 July 2025 CHG101100911 CBRE - Antony Johns
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 challenged the 2017 rating list entry of £730,000 (revised by the VO to £720,000), proposing £635,000 based initially on rental evidence but subsequently relying on comparison with other settled office assessments and the tone of the list. The tribunal found rental evidence unhelpful due to issues with both the subject property and comparable floor rents being lease renewals requiring substantial adjustments. The tribunal determined that whilst the subject property's location on Upper Thames Street suggested an established tone of £375/m2, its proximity to Cannon Street station warranted a premium, leading to an adoption of £400/m2 as fair and reasonable, resulting in an RV of £675,000.
Summary generated from the decision text and checked against it. The appellant was Roofoods Ltd, represented.
Grounds argued
- Rental evidence
- Comparable assessments (tone)
- Valuation method
- Evidence
- Rents, Settled assessments, Photographs, Expert report
- Cases cited
- Lotus & Delta Ltd v Culverwell; Gardiner & Theobold LLP v Jackson
- Hearing
- 9 June 2025
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