Store 2 Level 25 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites Decided 1 April 2025 CHG101088374 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 reduction of rateable values from £550/m² to £500/m², arguing the tower uplift was excessive for south-facing suites lacking Thames views and challenging the rent analysis methodology. The tribunal found the base price of £550/m² was not unreasonable, applying the binding principles from Bunyan v Acenden regarding amortisation of rent-free periods over the full lease term. However, agreeing with the valuation officer's concession, the tribunal allowed 48 appeals in part by granting a 5% allowance for material change of circumstances (Fielden House demolition works) from 1 April 2017 to 31 January 2022, while dismissing the two appeals for Suites 2511 and 2512 which had already received such allowance.
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 (Fielden House)
- 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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