Suite 2407 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites Decided 1 April 2025 CHG101088909 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 challenged the rateable values of 50 serviced office suites in The Shard, arguing for a 5% reduction based on material change of circumstances (demolition of Fielden House and reconstruction affecting access/views). The tribunal found the base valuation at £550/m² was reasonable, based on proper analysis of rental evidence including the subject lease at £586/m² to £668/m² depending on amortisation period following the binding decision in Bunyan v Acenden on treatment of rent-free periods. The tribunal rejected arguments against the Tower uplift and agreed a 5% end allowance was appropriate for the period 1 April 2017 to 31 January 2022 (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
- Rental evidence
- Comparable assessments (tone)
- Change of circumstances
- Valuation method · decisive
- Change of circumstances
- demolition and reconstruction
- Evidence
- Rents, Expert report
- Cases cited
- Lotus & Delta v Culverwell; Bunyan (VO) v Acenden Limited; Specialeyes Plc v Felgate
- Hearing
- 5 March 2025
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