3 RD & 4TH FLRS 20, OLD BAILEY, EC4M 7BH
Office and Premises Decided 31 July 2025 CHG101273341 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 EC4 | — | — | £2,160,000 | Allowed in part |
| 3RD & 4TH FLRS, 20 Old Bailey, London EC4This appeal | — | — | £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 of twelve office units at 20 Old Bailey, Central London, arguing for a reduction in the unadjusted base rate from £525 psm to £475 psm (later £475 psm from £450 psm). The tribunal found the current RVs unreasonable based on comparable evidence from 10 Old Bailey (valued at £480 psm) and 60 Ludgate Hill (valued at £550 psm), and noting the subject building had only partial refurbishment (Old Bailey façade only) compared to these newbuild comparables. The tribunal determined a base rate of £500 psm was reasonable, reducing the RVs accordingly for all properties, with effective dates ranging from 2018 to 2021.
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)
- Rental evidence
- Evidence
- Rents, Settled assessments, Photographs, Expert report
- 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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- 5 TH FLR 1, BARTHOLOMEW LANE, EC2N 2AX — Dismissed, 10 Sept 2026
- Petronas Energy Trading Ltd, Petronas Energy Trading Ltd, EC4M 7AW — Dismissed, 20 Jul 2026
- Equistone Partners Europe Limited, PT 6TH FLR 60 Ludgate Hill, EC4M 7AW — Dismissed, 20 Jul 2026
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