Meeting Room 04 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites Decided 1 April 2025 CHG101088122 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 the rateable values of 50 serviced office units across Levels 24 and 25 of The Shard, seeking a reduction based on £500/m² instead of the original £550/m², and arguing that a 'Tower uplift' should not apply to 17 south-facing suites. The tribunal found the valuation officer's approach to analysing the lease rent was correct, applying the Acenden decision principles to amortise the 33-month rent-free period over the full 20-year lease term rather than to the first rent review. The tribunal accepted a 5% material change of circumstances allowance for the demolition and reconstruction of adjacent Fielden House (1 April 2017 to 31 January 2022) for 48 properties, but dismissed appeals for Suites 2511 and 2512 which had already benefited from this allowance.
Summary generated from the decision text and checked against it. The appellant was The Office Group Holdings Ltd, represented.
Grounds argued
- Rental evidence
- Comparable assessments (tone)
- Change of circumstances
- Valuation method · decisive
- Effective date
- Change of circumstances
- demolition and reconstruction of adjacent building
- Evidence
- Rents, Expert report
- Cases cited
- Lotus and Delta v Culverwell; Bunyan (VO) v Acenden Limited; Specialeyes Plc v Felgate
- Hearing
- 5 March 2025
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