People

Richard Stoney

Partner

Location

London (West End)

Contact Richard

T: +44 (0)20 7333 6313

E: rstoney@geraldeve.com

Richard is a partner and chartered surveyor and heads our retail and restaurant business rates team in London. He provides specialist advice to retailers and restaurant operators on opportunities to minimise their business rates liability, with a particular focus on the food and beverage sector, and provides this advice to many of the UK’s largest operators. He has also provided a range of advice on landlord and tenant and valuation matters within these sectors.

Richard is a committee member of the Restaurant Property Advisors Society (RPAS), and a member of both the Rating Surveyors Association (RSA) and British Council of Shopping Centres (BCSC).

Specific experience

Richard was the sole private practice valuer involved in discussions with the Valuation Office Agency’s Specialist Rating Unit regarding establishing practices and procedures for the restaurant sector for the 2010 Rating Revaluation. This also involved identifying market trends and relevant transactions upon which to establish a level of value nationally.

Over the last half dozen years, Richard has saved clients over £10 million in business rates on shops and restaurants in high streets, shopping centres, outlet centres and retail and leisure parks across the UK. In a number of instances, this has involved establishing a variety of valuation principles for certain classes of property which have subsequently been adopted elsewhere to the significant benefit of ratepayers.

Acting on behalf of the likes of The Restaurant Group, Pizza Express, KFC, TGI Friday’s, Café Rouge, Prezzo, Whitbread and Mitchells & Butlers, Richard has made significant rates savings at many of the major shopping centres and retail and leisure parks in the UK and established revised levels of value.

For many years, Richard has provided advice to Marks and Spencer on the requirement for them to obtain consent under their leases to undertake works and alterations to their stores across the UK.

In 2005, Richard was one of the two lead partners at Gerald Eve when advising a consortium of investors including Barclays Capital, Apax Partners and The Tchenguiz Family Trust in buying the Somerfield supermarket business for £1.1 billion.

In recent years, he has also undertaken valuations for internal management accounts for Loch Fyne Restaurants, TGI Friday’s and Clapham House Group.