Tribunals · London Borough of Tower Hamlets · 2023 rating list

10 Newfoundland Place, E14 4BH

Restaurant and premises Decided 21 May 2026 CHG101182356 CBRE - Celia Bond

OutcomeAllowed in partThe tribunal reduced the rateable value, but by less than the ratepayer sought.

Original RV—£660/m²

Ratepayer sought£188,000

VO conceded first—

Tribunal decided£367,500£425/m²

Figures are as stated in the decision; a dash means the document does not state that figure.

What was argued and what the tribunal found

The appellant argued the original RV of £570,000 (£660/m²) was excessive and sought a reduction to £188,000 (£213/m²) based on passing rental evidence and comparable properties. The tribunal found the subject property's passing rent of £507,660 pa (adjusted to £405.39/m²) more reliable than the valuation officer's criticisms, which lacked coherent alternative analysis. The tribunal determined that £425/m² was fair and reasonable, reflecting the property's secondary location within a residential building at Canary Wharf with limited footfall, consistent with the reduction agreed for a comparable café unit at the same location previously assessed at £660/m².

Summary generated from the decision text and checked against it. The appellant was Canary Wharf Management Ltd, represented.