Client: JPMorgan Chase - London Wall
Each Valuation Office location has its own ‘quirk’, only identified by those with hands-on experience in the market. The City of London is no exception.
We used an obscure Regulation to the advantage of our client, a major bank occupying a 368,000 sq ft office building in the City. By successfully appealing the Certificate issued by the VO under the Regulations and negotiating a lower rateable value, we set a substantially lower baseline for the calculation of transitional relief.
By applying our detailed technical knowledge, our rating team reduced their rates bill by over £2.4m.
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