Unit 6 (Retail Unit A) The Shard Tower, London Bridge Station, SE1 9BR

What was argued and what the tribunal found

The appellant challenged the RV of £285,000 (reduced to £272,500 at Challenge stage) for a coffee shop at London Bridge Station, arguing it was excessive. The appellant's surveyor presented rental evidence from the subject property's July 2015 rent review, which showed a nil increase to £200,000 per annum (£6,975 per m²), together with evidence from comparable units on the same concourse affected by station redevelopment. The tribunal accepted the rental evidence from the subject property as most reliable being close to the AVD, and found that comparable unit evidence and the impact of the 2016 redevelopment diverting footfall supported the appellant's proposed £6,500 per m² (£186,000 RV), reducing from the assessed £9,500 per m².

Summary generated from the decision text and checked against it. The appellant was Nero Holdings Limited, represented.

Grounds argued

• Rental evidence · decisive
• Comparable assessments (tone)

Evidence

Rents, Settled assessments, Earlier tribunal decisions

Cases cited

Lotus and Delta v Culverwell; Gardiner & Theobald LLP v David Jackson; SSP v Ricketts 2022

Hearing

29 July 2025

Similar decisions

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All decisions in London Borough of Southwark · Shops nationally