Rooms 2.03 & 2.04, 2nd Flr, 181 Queen Victoria Street, EC4V 4EG
Offices and premises Decided 28 February 2025 CHG101122068 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, proposing £350 psm. The Valuation Officer provided one rental comparable (71 Queen Victoria Street at £592 psm analysed), while the appellant provided multiple comparables from Upper Thames Street, 128 Queen Victoria Street, and 85 Queen Victoria Street analysed at £370-£428 psm, plus settlement evidence of reductions to £375-£400 psm. The tribunal found the building's 1890 construction with low ceilings and original features made it less comparable to the modern 2014 building at 71 Queen Victoria Street, and weighted the older, refurbished buildings (85 and 128 Queen Victoria Street) as most comparable. The tribunal reduced the base rate to £425 psm.
Summary generated from the decision text and checked against it. The appellant was Beaumont Business Centres Limited, represented.
Grounds argued
- Comparable assessments (tone) · decisive
- Rental evidence
- 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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