BST NASH HOUSE, 39-41A, MADDOX STREET, W1S 2PR

What was argued and what the tribunal found

The appellant argued that the £950 per m² unadjusted main space price was excessive and should be reduced to £600 per m² based on analysis of the subject rent toned back to the AVD and comparables including Prince Frederick House. The tribunal found that while the basement is inferior to the refurbished upper floors, the property remains within a prime Mayfair building and should share in that value environment. The tribunal held that the appellant attached excessive weight to post-AVD rent evidence and inappropriately applied a 50% basement discount, resulting in double counting, and dismissed the appeal, confirming the RV at £59,500.

Summary generated from the decision text and checked against it. The appellant was Morton & Eden Ltd, represented.

Grounds argued

• Comparable assessments (tone)
• Rental evidence

Evidence

Rents, Settled assessments, Photographs

Cases cited

Lotus Group Limited v Johnson (Valuation Officer) [2026] UKUT 185 (LC); Gardiner & Theobald LLP v David Jackson (VO) [2018] UKUT 0253 (LC)

Hearing

4 September 2026

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