Suite 2515 Level 25 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites Decided 1 April 2025 CHG101088048 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 (The Office Group Holdings Ltd) sought a rateable value reduction from £550/m² to £375/m² and a 5% allowance for material change of circumstances relating to demolition works at Fielden House. The tribunal found that the valuation officer's approach to analysing the subject rent at £550/m² was correct, following the binding Acenden judgment on rent-free period amortisation over the full lease term. While the appellant presented rental evidence from comparable properties, the tribunal found it unreliable due to varying analyses and lack of clarity on amortisation periods. The tribunal allowed the appeals in part by granting a 5% allowance for 1 April 2017 to 31 January 2022 (the period of construction works), but dismissed the appeals relating to Suites 2511 and 2512 which had already benefited from the same allowance.
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 of adjacent building (Fielden House)
- Evidence
- Rents, Expert report
- Cases cited
- Lotus and Delta v Culverwell; Acenden Limited v Bunyan; Specialeyes Plc v Felgate
- Hearing
- 5 March 2025
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