Suite 2413 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites and ancillary spaces Decided 1 April 2025 CHG101088942 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 reductions of serviced office assessments at The Shard based on a lower tone of £500/m² and removal of tower uplift for south-facing suites without Thames views. The tribunal upheld the £550/m² base tone, finding the valuation officer's analysis of the subject lease rent, using the Acenden methodology with full-term amortisation, more persuasive than the appellant's variable approaches. However, the tribunal allowed the appellant's material change of circumstances claim, granting a 5% allowance from 1 April 2017 to 31 January 2022 for the impact of demolition and reconstruction of nearby Fielden House (except for Suites 2511 and 2512 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)
- Valuation method
- Change of circumstances · decisive
- Change of circumstances
- demolition and reconstruction
- Evidence
- Rents, Expert report
- 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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