RMS 3.10-3.11 AT 3RD FLR, 181 Queen Victoria Street, EC4V 4EG
Offices and premises Decided 28 February 2025 CHG101119939 Avison Young (UK) Ltd
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 unadjusted base rate of £450 psm in the 2017 rating list, proposing £350 psm. The Tribunal found the current RV was unreasonable. After considering rental evidence from comparable properties (Upper Thames Street, 71 Queen Victoria Street, 85 and 128 Queen Victoria Street) and settlement evidence, the Tribunal determined that properties built in 1890 with refurbishment in 2017 were inferior to the more modern comparable at 71 Queen Victoria Street (built 2014). The Tribunal adopted a base rate of £425 psm, representing a reduction from £450 psm, based on the comparative evidence reviewed in relation to tone of list.
Summary generated from the decision text and checked against it. The appellant was Beaumont Business Centres Limited, represented.
Grounds argued
- Comparable assessments (tone) · decisive
- Valuation method
- Evidence
- Rents, Settled assessments, Photographs
- Cases cited
- Lotus and Delta v Culverwell; Gardiner & Theobald LLP v David Jackson
- Hearing
- 31 January 2025
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