35 High Holborn, WC1V 6AE

Office and premises Decided 24 February 2023 VT00013176 CBRE - Alan Keena

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

Original RV£860,000£550/m²

Ratepayer sought£605,000

VO conceded first—

Tribunal decided£704,000£450/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 that the property was overvalued at £550psm compared to neighbouring buildings valued at £315-£385psm, and proposed a reduction to £605,000 (£380psm). The tribunal found the neighbouring comparables were not truly comparable due to their mixed-use nature and older construction. The tribunal accepted the VO's evidence of comparable office buildings at £483-£500psm and confirmed a reduced value of £704,000 (£450psm), representing a middle ground between the original certified value of £860,000 and the appellant's proposed figure.

Summary generated from the decision text and checked against it. The appellant was Warner Bros, represented.