Suite 2408 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites Decided 1 April 2025 CHG101088935 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 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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