12th-24th Flrs 5 Bank Street, E14 4BG
Offices and premises Decided 1 December 2025 CHG101303588 BNP Paribas Real Estate
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 10 properties together; the figures above are for this appeal's property (12th-24th Flrs 5 Bank Street, London E14 4BG). Every property is listed below.
The 10 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 |
|---|---|---|---|---|
| 12th-24th Flrs 5 Bank Street, London E14 4BGThis appeal | £11,080,000 | — | £9,340,000 | Allowed in part |
| 12th-22nd Flrs at 5 Bank Street, London E14 4BG | £9,950,000 | — | £8,400,000 | Allowed in part |
| 12th-21st Flrs at 5 Bank Street, London E14 4BG | £9,070,000 | — | £7,640,000 | Allowed in part |
| 12th-20th Flrs at 5, Bank Street, London E14 4BG | £8,160,000 | — | £6,870,000 | Allowed in part |
| Levels 19 & 20 at 5 Bank Street, London E14 4BG | £2,070,000 | — | £1,700,000 | Allowed in part |
| 12th-17th Flrs at 5 Bank Street, London E14 4BG | £5,810,000 | — | £4,900,000 | Allowed in part |
| Level 20 at 5, Bank Street, London E14 4BG | £1,060,000 | — | £895,000 | Allowed in part |
| 16th & 17th Flrs at 5, Bank Street, London E14 4BG | £2,620,000 | — | £1,660,000 | Allowed in part |
| 24th Flr 5, Bank Street, London E14 4BG | — | — | £895,000 | Allowed in part |
| 12th & 13th Flrs 5, Bank Street, London E14 4BG | — | — | — | Dismissed |
What was argued and what the tribunal found
The appellant sought reduction of the unadjusted base rate from £390 per m² to £350 per m² for office space across multiple floors at 5 Bank Street, London. The tribunal found comparable evidence from within the same building (lower floors at 1 Bank Street with £350 per m² assessments) and other nearby buildings, and determined that an unadjusted base rate of £350 per m² was fair and reasonable, allowing the appeal in part.
Summary generated from the decision text and checked against it. The appellant was European Bank of Reconstruction and Development, represented.
Grounds argued
- Comparable assessments (tone) · decisive
- Valuation method
- Evidence
- tone_of_list_comparables, Settled assessments
- Cases cited
- Lotus and Delta v Culverwell; Simpsons Malt Ltd v Jones; Denton v TH White Ltd
- Hearing
- 4 November 2025
Similar decisions
- 81 Mile End Road, E1 4TT — Dismissed, 26 Sept 2025
- Grnd Flr And Pt 1st Flr At 429, Westferry Road, E14 3AL — Dismissed, 21 Jul 2025
- 6 TH FLR, COMMODITY QUAY, E1W 1AZ — Dismissed, 17 Apr 2025
- 3RD FLR THE STEWARD BUILDING, 12, STEWARD STREET, E1 6FQ — Dismissed, 19 Dec 2024
All decisions in London Borough of Tower Hamlets · Offices nationally
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