3RD & 4TH FLRS 20 OLD BAILEY, 33 ST MARY AXE, EC4M 7BH
Office and Premises Decided 31 July 2025 CHG101121975 Savills
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 12 properties together; the figures above are for this appeal's property (3RD & 4TH FLRS, 20 Old Bailey, London EC4). Every property is listed below.
The 12 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 |
|---|---|---|---|---|
| PT LGND FLR, 20 Old Bailey, London EC4 | £242,000 | — | £260,000 | Allowed in part |
| PT GND FLR, 20 Old Bailey, London EC4 | — | — | £410,000 | Allowed in part |
| 1ST FLR, 20 Old Bailey, London EC4 | — | — | £890,000 | Allowed in part |
| 2ND FLR, 20 Old Bailey, London EC4 | — | — | £1,200,000 | Allowed in part |
| 2ND FLR, 20 Old Bailey, London EC4 | — | — | £1,200,000 | Allowed in part |
| 3RD & 4TH FLRS, 20 Old Bailey, London EC4 | — | — | £2,330,000 | Allowed in part |
| 3RD & 4TH FLRS, 20 Old Bailey, London EC4This appeal | — | — | £2,160,000 | Allowed in part |
| 3RD & 4TH FLRS, 20 Old Bailey, London EC4 | — | — | £2,330,000 | Allowed in part |
| PT GND FLR NORTH, 20 Old Bailey, London EC4 | — | — | £249,000 | Allowed in part |
| PT GND FLR NORTH, 20 Old Bailey, London EC4 | — | — | £230,000 | Allowed in part |
| PT GND FLR NORTH, 20 Old Bailey, London EC4 | — | — | £249,000 | Allowed in part |
| PT 5TH FLR WEST-9TH FLR, 20 Old Bailey, London EC4 | — | — | £3,270,000 | Allowed in part |
What was argued and what the tribunal found
The appellants challenged the rateable values for 12 office units at 20 Old Bailey, Central London, arguing that an unadjusted base rate of £525 psm was unreasonable and should be reduced to £475 psm (later revised to £475 psm). The appellants relied on comparable rental evidence from within the subject building and comparable properties (10 Old Bailey and 60 Ludgate Hill), together with photographs demonstrating building quality. The tribunal found the current RVs unreasonable and, noting that the subject property was superior to the newly-built 10 Old Bailey (£480 psm) but inferior to the newly-built 60 Ludgate Hill (£550 psm), and applying a discount for the subject being refurbished rather than newly built, determined a reasonable unadjusted base rate of £500 psm.
Summary generated from the decision text and checked against it. The appellant was Metro Bank plc; Phoenix Group; Withers LLP; Barings, represented.
Grounds argued
- Comparable assessments (tone) · decisive
- Floor area or measurement
- Evidence
- Rents, Photographs, Settled assessments
- Cases cited
- Dawn Bunyan (VO) v Acenden Limited [2023] UKUT 17 (LC); Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC); Denton v TH White Ltd [2014] EWCA Civ 906
- Hearing
- 1 July 2025
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- Petronas Energy Trading Ltd, Petronas Energy Trading Ltd, EC4M 7AW — Dismissed, 20 Jul 2026
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