Client: Colgate Palmolive, Salford
Colgate Palmolive occupied a multi-storey property in Salford, purpose-built in the 1930’s and partially refurbished in 1992. The company manufactured toothpaste and aerosols at the site and we were charged with negotiating the 2005 rating assessment, and subsequently devising a strategy to minimise empty property rates relief following the company’s announcement of withdrawal from the site.
Approach
We advised the company that the assessment – Rateable Value £1,030,000 was excessive, and we submitted an Appeal. We discussed with the company their precise proposals for the vacation of the site and worked with them to devise a strategy around this, in order to secure maximum rates relief.
Results
Following a series of detailed inspections and discussions with the Valuation Officer, we agreed a revised assessment of £675,000 which represents a reduction of almost 35%. Working closely with the company we implemented a strategy to maximise empty property rates relief through the reconstitution of the assessment following the commencement of the phased vacation of the premises. This strategy produced savings to Colgate Palmolive of £505,000 over an eighteen month period.
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