Rm 3.02, At 3rd Flr, 181 Queen Victoria Street, EC4V 4EG

What was argued and what the tribunal found

The appellant challenged the 2017 Rating List valuations, arguing that an unadjusted base rate of £350 psm was appropriate for 47 serviced office hereditaments at 181 Queen Victoria Street, London. The Tribunal reviewed comparable rental evidence from neighbouring Queen Victoria Street properties (71, 85 and 128 Queen Victoria Street) and Upper Thames Street, along with settlement evidence. The Tribunal found that the original base rate of £450 psm was unreasonable, as 71 Queen Victoria Street (a superior 2014-built property) at £450 psm supported a lower base rate for the subject property (originally 1890s with 2017 refurbishment). The Tribunal determined that an unadjusted base rate of £425 psm was justified on comparative evidence, resulting in reductions to individual hereditament RVs across all 47 subject properties.

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

Grounds argued

• Comparable assessments (tone) · decisive

Evidence

Rents, Settled assessments, Photographs

Cases cited

Lotus and Delta v Culverwell; Gardiner & Theobald LLP v David Jackson

Hearing

31 January 2025

Similar decisions

• 5 TH FLR 1, BARTHOLOMEW LANE, EC2N 2AX — Dismissed, 10 Sept 2026
• Petronas Energy Trading Ltd, Petronas Energy Trading Ltd, EC4M 7AW — Dismissed, 20 Jul 2026
• Equistone Partners Europe Limited, PT 6TH FLR 60 Ludgate Hill, EC4M 7AW — Dismissed, 20 Jul 2026
• Ropes & Gray International Llp, 5th Floor South, EC4M 7AW — Dismissed, 20 Jul 2026

All decisions in City of London Corporation · Offices nationally