Suite 2408 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites Decided 1 April 2025 CHG101088935 Avison Young
Figures are as stated in the decision, and are values in the 2017 list; a dash means the document does not state that figure. This judgement decided 50 properties together; the figures above are for this appeal's property (Suite 2408 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY). Every property is listed below.
The 50 properties in this decision
One judgement covered all of these appeals. Each property’s figures as the judgement states them (2017 list); this appeal’s property is highlighted.
| Property | Original RV | Sought | Tribunal decided | Outcome |
|---|---|---|---|---|
| Bar Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £8,800 | — | £8,300 | Allowed in part |
| Executive Club 24, The Shard, 31, St Thomas Street, London SE1 9RY | £98,500 | — | £93,500 | Allowed in part |
| Furniture Store 1 24 The Shard, 31, St Thomas Street, London SE1 9RY | £4,900 | — | £4,650 | Allowed in part |
| Furniture Store 2 24 The Shard, 31, St Thomas Street, London SE1 9RY | £9,600 | — | £9,100 | Allowed in part |
| Management Suite Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £5,900 | — | £5,600 | Allowed in part |
| Meeting Room 01 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £19,500 | — | £18,500 | Allowed in part |
| Meeting Room 02 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £17,750 | — | £16,750 | Allowed in part |
| Meeting Room 03 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £18,000 | — | £17,000 | Allowed in part |
| Meeting Room 04 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £16,500 | — | £15,750 | Allowed in part |
| Meeting Room 05 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £11,250 | — | £10,750 | Allowed in part |
| Meeting Room 06 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £13,500 | — | £12,750 | Allowed in part |
| Meeting Room 07 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £13,250 | — | £12,500 | Allowed in part |
| Meeting Room 08 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £31,750 | — | £30,000 | Allowed in part |
| Pantry Store, Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £4,150 | — | £3,950 | Allowed in part |
| Phone Booth 1 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £2,900 | — | £2,750 | Allowed in part |
| Phone Booth 2 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £2,500 | — | £2,375 | Allowed in part |
| Phone Booth 3 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £2,800 | — | £2,650 | Allowed in part |
| Post Room Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £8,700 | — | £8,200 | Allowed in part |
| Reception Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £5,900 | — | £5,600 | Allowed in part |
| Store 1 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £5,500 | — | £5,300 | Allowed in part |
| Store 2 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £9,700 | — | £9,200 | Allowed in part |
| Suite 2402 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £31,750 | — | £30,000 | Allowed in part |
| Suite 2403 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £35,750 | — | £34,000 | Allowed in part |
| Suite 2404 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £35,500 | — | £33,750 | Allowed in part |
| Suite 2405 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £35,500 | — | £33,750 | Allowed in part |
| Suite 2406 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £28,250 | — | £27,000 | Allowed in part |
| Suite 2407 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £29,750 | — | £28,250 | Allowed in part |
| Suite 2408 Level 24, The Shard, 31, St Thomas Street, London SE1 9RYThis appeal | £29,250 | — | £27,750 | Allowed in part |
| Suite 2409 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £33,750 | — | £32,000 | Allowed in part |
| Suite 2410 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £31,000 | — | £29,250 | Allowed in part |
| Suite 2411 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £28,500 | — | £27,000 | Allowed in part |
| Suite 2412 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £42,750 | — | £40,500 | Allowed in part |
| Suite 2413 Level 24, The Shard, 31, St Thomas Street, London SE1 9RY | £41,000 | — | £39,000 | Allowed in part |
| Suite 2501 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £30,000 | — | £28,500 | Allowed in part |
| Suite 2502 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £28,000 | — | £26,500 | Allowed in part |
| Suite 2503 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £53,000 | — | £50,000 | Allowed in part |
| Suite 2504 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £32,750 | — | £31,000 | Allowed in part |
| Suite 2505 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £30,500 | — | £29,000 | Allowed in part |
| Suite 2506 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £48,750 | — | £46,250 | Allowed in part |
| Suite 2507 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £28,250 | — | £26,750 | Allowed in part |
| Suite 2508 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £40,750 | — | £38,750 | Allowed in part |
| Suite 2509 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £35,000 | — | £33,250 | Allowed in part |
| Suite 2510 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £31,000 | — | £29,250 | Allowed in part |
| Suite 2511 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £31,500 | — | £31,500 | Dismissed |
| Suite 2512 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £65,500 | — | £65,500 | Dismissed |
| Suite 2513 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £32,000 | — | £30,250 | Allowed in part |
| Suite 2514 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £30,250 | — | £28,750 | Allowed in part |
| Suite 2515 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £51,500 | — | £49,250 | Allowed in part |
| Suite 2516 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £42,500 | — | £40,250 | Allowed in part |
| Suite 2517 Level 25, The Shard, 31, St Thomas Street, London SE1 9RY | £87,500 | — | £83,000 | Allowed in part |
What was argued and what the tribunal found
The appellant sought a reduction from £550/m² to £500/m² for serviced office suites on Levels 24-25 of The Shard, arguing the 'Tower uplift' (10-11%) should not apply to south-facing suites lacking River Thames views, and challenging the rent analysis methodology. The tribunal found the appellant's rent analysis unreliable and applied the Acenden principles on amortising rent-free periods over the full lease term rather than to the first rent review. The tribunal rejected the uplift removal argument as unsupported by evidence. For 48 suites, a 5% end allowance was allowed for material change of circumstances (demolition of Fielden House) from 1 April 2017 to 31 January 2022; two suites (2511-2512) which had already benefited from this allowance were dismissed.
Summary generated from the decision text and checked against it. The appellant was The Office Group Holdings Ltd, represented.
Grounds argued
- Comparable assessments (tone) · decisive
- Change of circumstances
- 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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