Suite 2404 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Decided 1 April 2025 CHG101088036 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, a serviced office provider, sought reductions to 50 appeal hereditaments at The Shard on Levels 24 and 25, challenging the base tone of £550/m² and a 'Tower uplift' of 10-11%. The tribunal found the valuation officer's approach to analysing the subject rent in accordance with Bunyan (VO) v Acenden Limited (amortising rent-free periods over the full lease term absent a break clause) was correct, and rejected the appellant's varying devaluation methods which produced inconsistent results. The tribunal also rejected the claim that south-facing suites should not benefit from the uplift, finding no evidence they were less desirable. Accordingly, 48 appeals were allowed-in-part with a 5% end allowance for material change of circumstances (demolition and reconstruction) from 1 April 2017 to 31 January 2022, while 2 suites already benefiting from such allowance had their appeals dismissed.
Summary generated from the decision text and checked against it. The appellant was The Office Group Holdings Ltd, represented.
Grounds argued
- Rental evidence · decisive
- Comparable assessments (tone)
- Change of circumstances
- Change of circumstances
- demolition and reconstruction
- Evidence
- Rents, Expert report
- Cases cited
- Bunyan (VO) v Acenden Limited; Specialeyes Plc v Felgate (VO); Lotus and Delta v Culverwell
- Hearing
- 5 March 2025
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