Meeting Room 05 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites and ancillary spaces Decided 1 April 2025 CHG101088949 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 assessments at The Shard on Levels 24 and 25, primarily on rental evidence and the appropriateness of a tower uplift for south-facing suites. The tribunal found the valuation officer's analysis of the subject rent was correct in accordance with the Bunyan v Acenden case, amortising rent-free periods over the full lease term rather than to the first review. The tribunal accepted the base price of £550/m² and dismissed arguments that south-facing suites lacked sufficient views to justify the tower uplift. 48 appeals were allowed-in-part with a 5% end allowance granted for material change of circumstances (demolition and reconstruction of adjacent Fielden House) from 1 April 2017 to 31 January 2022, while 2 suites (2511 and 2512) were dismissed as they had already benefited from a 5% allowance.
Summary generated from the decision text and checked against it. The appellant was The Office Group Holdings Ltd, represented.
Grounds argued
- Rental evidence · decisive
- Comparable assessments (tone)
- Change of circumstances
- Change of circumstances
- demolition and reconstruction works
- Evidence
- Rents, Expert report
- Cases cited
- Lotus and Delta v Culverwell; Bunyan (VO) v Acenden Limited; Specialeyes Plc v Felgate
- Hearing
- 5 March 2025
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