Furniture Store 1 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites and ancillary accommodation Decided 1 April 2025 CHG101088196 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 5% allowance for material change of circumstances (demolition of Fielden House from 1 April 2017 to 31 January 2022) and challenged the rateable values on the basis that the tone of £550/m2 was too high, proposing £500/m2. The tribunal found that the appellant's analysis of rental evidence, particularly in relation to amortisation of rent-free periods, did not accord with the binding Upper Tribunal decision in Acenden, and that the valuation officer's approach was correct. The tribunal allowed a 5% allowance for 48 properties for the specified material change of circumstances period, but dismissed the appeals for Suites 2511 and 2512 which had already benefited from a 5% allowance. The base tone of £550/m2 was upheld.
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 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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