Suite 2512 Level 25 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites Decided 1 April 2025 CHG101088011 Avison Young (UK) Ltd
Figures are as stated in the decision; a dash means the document does not state that figure. This decision covers 50 properties; the figures shown are for the first listed.
What was argued and what the tribunal found
The appellant challenged 50 rateable values for serviced office suites in The Shard, seeking reductions based on a lower price per m2 of £500 and removal of tower uplift for south-facing suites. The tribunal rejected the removal of the tower uplift, finding no evidence that south-facing suites were less desirable, and upheld the base price of £550/m2. However, the tribunal accepted the valuation officer's concession of a 5% allowance for material change of circumstances (demolition and reconstruction of Fielden House) from 1 April 2017 to 31 January 2022, applying this to 48 suites. Two suites (2511 and 2512) had already benefited from the 5% allowance and were dismissed. The tribunal was guided by Acenden in determining that rent-free periods should be amortised over the full lease term absent a break clause.
Summary generated from the decision text and checked against it. The appellant was The Office Group Holdings Ltd, represented.
Grounds argued
- Comparable assessments (tone)
- Valuation method
- Change of circumstances
- Effective date
- Change of circumstances
- demolition and reconstruction
- Evidence
- Rents, Expert report, Photographs
- Cases cited
- Bunyan (VO) v Acenden Limited; Lotus & Delta v Culverwell; Specialeyes Plc v Felgate (VO)
- Hearing
- 5 March 2025
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