Tribunals · London Borough of Southwark · 2017 rating list

Suite 2517 Level 25 The Shard 31, St Thomas Street, SE1 9RY

Serviced offices Decided 1 April 2025 CHG101088974 Avison Young (UK) Ltd

OutcomeAllowed in partThe tribunal reduced the rateable value, but by less than the ratepayer sought.
Original RV£8,800£550/m²
Ratepayer sought£8,370
VO conceded first£8,370−5% before the hearing
Tribunal decided£8,300£550/m²

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 on Levels 24 and 25 of The Shard, arguing for a reduction based on £500/m2 instead of the £550/m2 base price and disputing a tower uplift applied to properties without River Thames views. The tribunal found the base price of £550/m2 was reasonable based on comparable rents analysed according to Acenden principles, particularly Rear Part Level 2 which showed £604/m2. The tribunal agreed only with the appellant's claim for a 5% material change of circumstances allowance for the period 1 April 2017 to 31 January 2022 (when demolition and reconstruction of adjacent Fielden House occurred), reducing assessments by 5% for this period only, except for two suites which had already received 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 · decisive
  • Comparable assessments (tone)
  • Change of circumstances
Change of circumstances
demolition and reconstruction of adjacent property
Evidence
Rents, Settled assessments
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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