Suite 2516 Level 25 The Shard 31, St Thomas Street, SE1 9RY

What was argued and what the tribunal found

The appellant (Office Group Holdings Ltd) argued for a reduction from £550/m2 to £500/m2 and contended that a tower uplift should not apply to south-facing suites lacking River Thames views, and that rent-free periods should be amortised over five years rather than the full lease term. The tribunal, guided by Bunyan v Acenden Limited, found that amortising inducements over the full lease term (absent a break clause) was the correct approach, and that the appellant had provided inconsistent and unreliable analyses. The tribunal rejected the removal of the tower uplift due to lack of evidence of actual disadvantage. An end allowance of 5% was granted for the period 1 April 2017 to 31 January 2022 (except for two suites that had already benefited from this allowance), reducing most assessments by 5%, with the remaining RVs reinstated from 31 January 2022.

Summary generated from the decision text and checked against it. The appellant was The Office Group Holdings Ltd, represented.

Grounds argued

• Comparable assessments (tone)
• Rental evidence
• Valuation method

Change of circumstances

demolition and reconstruction works

Evidence

Rents, rental_evidence

Cases cited

Lotus and Delta v Culverwell; Bunyan (VO) v Acenden Limited; Specialeyes Plc v Felgate

Hearing

5 March 2025

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