Meeting Room 08 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suites and associated premises Decided 1 April 2025 CHG101088962 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 suites at The Shard, arguing for a reduction from £550/m² to £500/m² and the removal of tower uplifts for south-facing suites. The tribunal rejected the appellant's rental evidence analysis, finding the Valuation Officer's approach aligned with Bunyan v Acenden (amortising rent-free periods over the full lease term rather than five years) was more persuasive. The tribunal allowed appeals in part, granting a 5% allowance for material change of circumstances (demolition and reconstruction of nearby Fielden House) from 1 April 2017 to 31 January 2022, but rejected the reduction in base price and removal of tower uplifts. Two suites already benefiting from the 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)
- Rental evidence
- Change of circumstances
- demolition and reconstruction
- Evidence
- Rents, Expert report
- Cases cited
- Bunyan (VO) v Acenden Limited; Lotus and Delta v Culverwell; Specialeyes Plc v Felgate
- Hearing
- 5 March 2025
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