Suite 2502 Level 25 The Shard 31, St Thomas Street, SE1 9RY
Decided 1 April 2025 CHG101088927 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 company challenged the rateable values of 50 serviced office units across levels 24 and 25 of The Shard, seeking a reduction from £550/m² to £500/m² and arguing that a tower uplift should not apply to south-facing suites lacking Thames views. The tribunal found the original £550/m² base price reasonable, relying on the binding Acenden principles for devaluing rent-free periods over the full lease term rather than to the first review. The tribunal rejected the appellant's arguments on comparable rents, tower uplift removal, and rent analysis methodology, but allowed all appeals in part by granting a 5% end allowance for material change of circumstances (demolition and reconstruction works) for the period 1 April 2017 to 31 January 2022, except for Suites 2511 and 2512 which had already received such relief.
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
- Evidence
- Rents, Measurement survey
- Cases cited
- Lotus and Delta v Culverwell; Bunyan (VO) v Acenden Limited; Specialeyes Plc v Felgate
- Hearing
- 5 March 2025
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