Client: Keele University Science Park
Keele University Science Park Ltd operate four serviced offices on its site, totalling circa 104,000 sq ft which it leases (predominantly on the basis of all inclusive 12 month licence agreements and flexible leases) to a range of established and fledgling tenants.
With a transient tenant base, the main problems it faced related to the payment and administration of business rates, and in particular:
- Identification of the various rate demands, marrying these with the occupants and re-naming the demands to make identification easier
- There was confusion over the proportion of business rates which should be recharged to its tenants
- Notifying the Valuation Office of changes in areas of occupation and of periods when parts of the buildings were vacant, so opportunities to secure historic empty rates relief were not missed
- The opportunity to merge some of the 50 individual rating assessments (excluding tenants that benefit from small business rate relief and those held on leases) into larger parcels of single assessments, remained unchallenged
Our approach
On our appointment, our rating experts spent time gathering and collating paperwork with Keele University Science Park, to establish a detailed timeline of occupation for each building. We audited the 50 rating assessments and with this information we met with the Valuation Office several times and discussed our approach with the Local Authority. We have also appealed a number of assessments on the basis of the issues listed above, presenting market evidence to the Valuation Office where necessary.
Result
The process is on-going and our involvement to date has secured over £100,000 in refunds for our client and has ensured that everything is administratively in order.
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