From one south London café opened by a pair of brothers in the 1970s, Costa Coffee has grown into an international operator. In the UK, their expansion in the last 10 years has been explosive.
In 2005, Costa operated 350 sites. Five years later, that had doubled, and by 2015, there are about 1150 company-owned stores. In 2015 alone, Costa will open around 120 new stores – just over two a week.
Gerald Eve has provided business rates advice to Costa throughout this period of growth. This has involved lodging and undertaking all appeals, paying all of Costa’s rates, auditing the company’s rates history and lobbying on their behalf. Appeals are managed by specialist rating surveyors in each of our offices across the UK. We are also Costa’s outsourced property manager, and our London ratings surveyors sit right beside our property management team, receiving the latest information on the portfolio.
As a Costa barista might say, it’s a well-rounded service which has delivered a satisfying effect. During our time as Costa’s rating adviser, we’ve generated savings of around £8m since 2010.
For more information, or if you’d like to talk about reducing your business rates burden, email Richard Stoney on [email protected].