Phone Booth 2 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Decided 1 April 2025 CHG101088208 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 across Levels 24 and 25 of The Shard, arguing for a base tone of £500/m² instead of £550/m² and challenging the tower uplift applied to south-facing units. The tribunal found the valuation officer's analysis of the subject rent and comparable rents was correct, following the binding principles in Bunyan v Acenden regarding amortisation of rent-free periods over the full lease term. The tribunal granted a 5% end allowance for the period 1 April 2017 to 31 January 2022 to reflect material change of circumstances from demolition and reconstruction works, except for two suites 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
- 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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