2nd Flr Rear 8 St James's Square, SW1Y 4JU
Offices and premises Decided 17 April 2025 CHG101109081 Knight Frank
Figures are as stated in the decision, and are values in the 2017 list; a dash means the document does not state that figure. This judgement decided 3 properties together; the figures above are for this appeal's property (2nd Floor Rear, 8 St James's Square, London SW1Y 4JU). Every property is listed below.
The 3 properties in this decision
One judgement covered all of these appeals. Each property’s figures as the judgement states them (2017 list); this appeal’s property is highlighted.
| Property | Original RV | Sought | Tribunal decided | Outcome |
|---|---|---|---|---|
| 1st Floor, 8 St James's Square, London SW1Y 4JU | £890,000 | £775,000 | £890,000 | Dismissed |
| 2nd Floor Rear, 8 St James's Square, London SW1Y 4JUThis appeal | £625,000 | £545,000 | £625,000 | Dismissed |
| 2nd Floor Front, 8 St James's Square, London SW1Y 4JU | £500,000 | £435,000 | £500,000 | Dismissed |
What was argued and what the tribunal found
The appellant challenged the rateable values of three office floors at 8 St James's Square, London, proposing a tone of value of £1,175/m² against the Valuation Officer's £1,350/m². The appellant argued rents should be amortised over five years, particularly in the central London market with strong rental growth at the antecedent valuation date, whereas the Valuation Officer followed the judgment in Dawn Bunyan v Acenden Limited, amortising rent-free periods over the full lease term or to the first break clause. The tribunal found the Valuation Officer's methodology more persuasive, placing significant weight on rental evidence for new floors closest to the valuation date (5th and 6th floors), and found the £1,350/m² tone fair and reasonable, dismissing the appeals.
Summary generated from the decision text and checked against it. The appellant was Point72 UK Ltd, represented.
Grounds argued
- Rental evidence
- Comparable assessments (tone) · decisive
- Valuation method
- Evidence
- Rents, Settled assessments
- Cases cited
- Lotus and Delta v Culverwell; Gardiner & Theobald LLP v David Jackson; Dawn Bunyan v Acenden Limited
- Hearing
- 28 March 2025
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