Suite 2410 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites, Levels 24 and 25, The Shard Decided 1 April 2025 CHG101088898 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 (a serviced office provider) appealed 50 assessments on Levels 24 and 25 of The Shard, arguing the RVs should be reduced from £550/m² to £500/m² and that the 'Tower uplift' should not apply to 17 south-facing suites. The tribunal found the valuation officer's analysis of the subject rent correctly applied Acenden principles by amortising the 33-month rent-free period over the full lease term rather than to the first rent review, supporting the £550/m² base price. The tribunal rejected the appellant's challenge to the Tower uplift due to insufficient evidence. However, the tribunal allowed appeals in part by accepting a 5% end allowance for material change of circumstances (the demolition and reconstruction of Fielden House) from 1 April 2017 to 31 January 2022, except for Suites 2511 and 2512 which had already benefited from this allowance. Forty-eight appeals were allowed in part and two dismissed.
Summary generated from the decision text and checked against it. The appellant was The Office Group Holdings Ltd, represented.
Grounds argued
- Rental evidence
- Comparable assessments (tone)
- Change of circumstances
- Change of circumstances
- demolition and reconstruction of Fielden House
- Evidence
- Rents, Earlier tribunal decisions
- 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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