3 RD & 4TH FLRS 20, OLD BAILEY, EC4M 7BH
Office and Premises Decided 31 July 2025 CHG101273341 Savills UK Limited
Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 12 properties; the figures shown are for the first listed.
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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