Executive Club 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites Decided 1 April 2025 CHG101088133 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 sought reductions in rateable values for 50 serviced office suites on Levels 24 and 25 of The Shard, arguing for a price of £500/m² against the original £550/m² and contending that a 'Tower uplift' should not apply to 17 south-facing suites without Thames views. The tribunal found the base price of £550/m² was reasonable, following the Acenden principles for analysing rents with rent-free periods over the full lease term (not just to the next rent review), and rejected the removal of the Tower uplift due to lack of evidence. The tribunal allowed 48 appeals in part, granting a 5% allowance for material change of circumstances from 1 April 2017 to 31 January 2022 (reflecting demolition and reconstruction impacts), 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 · decisive
- Valuation method
- Change of circumstances
- demolition of Fielden House and subsequent reconstruction
- 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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