Suite 2411 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced offices on Levels 24 and 25 Decided 1 April 2025 CHG101088148 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 suites at The Shard, arguing for a reduction from £550/m2 base price to £500/m2 and seeking removal of 'tower uplift' for south-facing suites without Thames views. The tribunal rejected these arguments, finding the valuation officer correctly applied the Acenden principles for analysing rent-free periods by amortising over the full lease term rather than to first review, and that the tower uplift was justified. However, the tribunal allowed appeals in part by granting a 5% end allowance for material change of circumstances (demolition and reconstruction of adjacent Fielden House) from 1 April 2017 to 31 January 2022. Appeals for Suites 2511 and 2512, which had already benefited from this allowance, were dismissed.
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) · decisive
- Change of circumstances
- Valuation method
- 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 (VO)
- Hearing
- 5 March 2025
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