SERVICES PROVIDED

  • Rating Valuation

CHALLENGE

  • To mitigate rate liability on a food superstore, proposed for closure in January 2006 and vacated in February 2009. Property on market and client liable for empty rates.

STRATEGY

  • Obtain proposed store closure report from client.
  • Review full marketing history to date.
  • Identify local competition.
  • Analyse comparable evidence

OBJECTIVE

  • To show subsequent limited demand from other food retailers.
  • Negotiate with Valuation Officer.

RESULTS

  • The Rateable Value has more than halved with effect from January 2006 and has generated cash savings for our Client of around £500,000.