Case Study - reduction in Rateable Value of out of town offices
01

Background

Our client occupies an office in an out of town location in the South West of England. They occupy the property on a leasehold basis and we were instructed to review the merits of lodging a business rates appeal against the Rateable Value of their property. 

 

02

Our Approach

We inspected our clients property, reviewed their lease, comparable rental evidence and values applied to other comparable offices in the Rating List.

03

Outcome

We submitted a Check and Challenge, proposing a reduction in the £/m² rate applied to the property but also querying adjustments made to the valuation.

When a property is valued in line with comparable properties in the Rating List, it is said to be "in tone". In this instance, this was the crux of our argument. 

Along with our analysis of the rent on the subject property we were are able to demonstrate the subject property was overvalued in comparison to similar office properties and therefore successfully achieve a reduction in business rates liability for our client.