Reception Level 24 The Shard 31, St Thomas Street, SE1 9RY
Office suites and ancillary spaces Decided 1 April 2025 CHG101088166 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, challenged rateable values for 50 office suites on Levels 24-25 of The Shard, seeking reduction from £550/m² to £500/m² and removal of a tower uplift from south-facing units. The tribunal applied binding authority from Bunyan v Acenden on rent devaluation methodology and found the base price of £550/m² was reasonable based on analysis of actual lettings with extensive rent-free periods amortised over the full lease term. The tribunal rejected the appellant's arguments regarding south-facing units lacking River Thames views, finding no evidence they were less desirable. The tribunal allowed 48 appeals in part with a 5% end allowance for material change of circumstances (demolition reconstruction) from April 2017 to January 2022, but dismissed appeals for Suites 2511-2512 which had already benefited from the 5% allowance.
Summary generated from the decision text and checked against it. The appellant was The Office Group Holdings Ltd, represented.
Grounds argued
- Comparable assessments (tone)
- Change of circumstances
- Change of circumstances
- demolition and 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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