Client: Unilever Research and Development, Merseyside
Unilever Research and Development occupies a pre-dominantly 1960’s built complex extending to 44,000 m2, comprising laboratories, offices and manufacturing facilities. The assessment was entered into the 2005 Rating List at Rateable Value £2,560,000 and we were instructed to advise on the correct level of assessment.
Approach
Following an initial appraisal of the assessment and in-depth discussions with the company with regard to their R&D accommodation requirements, we submitted an appeal to challenge the level of assessment. We undertook a series of accompanied inspections of the subject property with the Valuation Officer, and inspected properties put forward by the Valuation Officer as comparables in support of the assessment. Having regard to the specialised nature of the property at Bromborough, in addition to our local market knowledge we also considered R&D facilities from a national perspective. Following a detailed appraisal of assessments relating to R&D sites, we submitted with our valuation of the property together with supporting evidence.
Results
Following a series of meetings with the Valuation Officer, we negotiated a revised assessment of £1,720,000. The revised assessment represents a reduction of almost 33% and produced savings of £1,875,000 over the life of the 2005 Rating List.
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