Service: Business Rates | Contact: Helen Edwards / Tim Smith
Hennessey Developments owned a development opportunity on Newport Road in Cardiff, for which they were proposing the demolition of the existing commercial property and the construction of 32 self-contained flats. We were appointed to reduce the rates liability on the vacant warehouse ahead of the start of development.
With empty rate relief already exhausted, there was a backdated liability and escalating ongoing costs. We identified the best strategy of undertaking a new appeal, as the original had not covered the required scope. We secured a reduction in rateable value from £35,000 to £28,500, and subsequently appealed a Valuation Office notice extending the scope of the proposal.
Following extended discussions, and after supplying costs of reinstatement, the valuation office agreed to reduce the assessment to £0 due to the property being beyond economic repair. This successful conclusion secured the client a £39,867 refund on the 2010 list, and annual savings from 2017 onwards of more than £20,000, a 100% reduction in liability.