Meeting Room 02 Level 24 The Shard 31, St Thomas Street, SE1 9RY

What was argued and what the tribunal found

The appellant sought a reduction to the rateable values of 50 serviced office suites at The Shard based on a base price of £500/m² rather than the £550/m² used in the original valuation, and argued that the tower uplift should not apply to southern-facing suites. Following analysis of the rent passing on the subject property and comparable assessments, the tribunal found the valuation officer's analysis of the subject rent in accordance with Bunyan v Acenden, which requires amortisation of rent-free periods over the full lease term absent a break clause, to be more reliable. The tribunal rejected the appellant's arguments on the tower uplift as lacking supporting evidence. The tribunal allowed the appeals in part by granting the 5% end allowance for material change of circumstances that the valuation officer had conceded, but dismissed the appeals in respect of two suites that 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)
• Valuation method · decisive
• Change of circumstances

Change of circumstances

demolition and reconstruction of Fielden House

Evidence

Rents, Settled assessments, Measurement survey, Photographs

Cases cited

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

Hearing

5 March 2025

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