Tribunals · City of London Corporation · 2017 rating list

Rms 1.03-1.04, At 1st Flr, 181 Queen Victoria Street, EC4V 4EG

Offices and premises Decided 28 February 2025 CHG101120581 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 entries for 47 serviced offices at 181 Queen Victoria Street, proposing an unadjusted base rate of £350 psm against the VO's £450 psm. The Tribunal found the current RVs unreasonable after reviewing rental evidence from comparable properties (Upper Thames Street, 128 and 85 Queen Victoria Street) and settlement evidence. Although 71 Queen Victoria Street was let closer to the antecedent valuation date, the Tribunal found it to be a superior property (built 2014 versus 1890, with higher ceilings), and therefore determined the correct base rate should be £425 psm, allowing the appeal in part.

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