Tribunals · City of London Corporation · 2017 rating list

Gnd Flr Rooms, G.10 & G.11,, 181 Queen Victoria Street, EC4V 4EG

Offices and premises Decided 28 February 2025 CHG101122047 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 RVs at £450 psm, proposing £350 psm based on comparable rental evidence. The tribunal found the original £450 psm unadjusted base rate was unreasonable. Comparing the subject property (built 1890, refurbished 2017) with rental evidence at Upper Thames Street and Queen Victoria Street, and noting that 71 Queen Victoria Street (built 2014) was superior in character and quality despite being at £450 psm, the tribunal determined an unadjusted base rate of £425 psm was appropriate. The tribunal preferred the analysis by the appellant's expert witness over the VO's evidence, particularly regarding adjustment for rent-free periods and comparable properties outside Queen Victoria Street.

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