Suite 2409 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced offices Decided 1 April 2025 CHG101088306 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 in rateable value from £550/m² to £500/m², arguing that the 'Tower uplift' should not apply to 17 suites on the south side lacking Thames views, and that rent-free periods should be amortised to the first rent review rather than over the full lease term. The tribunal followed Bunyan v Acenden and found the VO's analysis correct: rent-free periods should be amortised over the full lease term absent a break clause, and no evidence demonstrated the south-facing suites were less desirable. The base price of £550/m² was upheld. However, the tribunal allowed the appeals in part by granting a 5% end allowance for material change of circumstances (demolition of Fielden House and reconstruction) for the period 1 April 2017 to 31 January 2022, except for Suites 2511 and 2512 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
- Valuation method
- Change of circumstances
- demolition and reconstruction
- Evidence
- Rents, Earlier tribunal decisions
- Cases cited
- Lotus and Delta v Culverwell; Bunyan (VO) v Acenden Limited; Specialeyes Plc v Felgate
- Hearing
- 5 March 2025
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