Suite 2510 Level 25 The Shard 31, St Thomas Street, SE1 9RY
Offices and premises Decided 1 April 2025 CHG101088191 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 a reduction from £550/m² to £500/m² base price and removal of tower uplift from 17 southern suites lacking Thames views. The tribunal found the rental evidence analysis, particularly Rear Part Level 2 let on AVD at £604/m² after deductions, supported the £550/m² base price. Following Bunyan v Acenden, the tribunal accepted the valuation officer's approach to amortise the 33-month rent-free period over the full 20-year lease term rather than to first review. The tribunal allowed the valuation officer's conceded 5% material change of circumstances allowance for disruption from Fielden House demolition/reconstruction from 1 April 2017 to 31 January 2022 (except Suites 2511/2512 which already had this), but dismissed the appeals for those two suites and rejected removal of the tower uplift as unsupported by evidence.
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
- 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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