Meeting Room 07 Level 24 The Shard 31, St Thomas Street, SE1 9RY
Serviced office suite Decided 1 April 2025 CHG101088971 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 in rateable values from £550/m² to £500/m² for 50 serviced office suites at The Shard, arguing that a 'Tower uplift' was inappropriate for south-facing suites without Thames views and that rent-free periods should be amortised over 5 years. The tribunal accepted the Valuation Officer's analysis under Acenden principles, finding that rent-free periods should be amortised over the lease term where there is no break clause, and that the south-facing suites had not been shown to be less desirable. The tribunal allowed all appeals in part by granting a 5% end allowance for material change of circumstances (demolition and reconstruction) from 1 April 2017 to 31 January 2022, but dismissed appeals for Suites 2511 and 2512 which had already benefited from such an 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)
- Change of circumstances
- Change of circumstances
- demolition and reconstruction of adjacent property
- Evidence
- Rents, Measurement survey, 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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