Client: Unilever
Multi-national manufacturer, Unilever, instructed our rating experts to reduce the £6.1m rateable value on its 300,000 sq ft headquarters in EC4.
We found savings from two sources. The first was from an appeal against the initial rating assessment. We successfully argued that the unique size and fragmentation of the building justified a discount. A listed building situated in a non-prime location were further reasons for a reduction.
The second source came from empty rates relief when part of the building was undergoing refurbishment. As it stands today, we have reduced Unilever’s bill by 30%, saving the company £2m, and are currently advising on the reassessment of the building following its redevelopment.
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