Acting on behalf of a local investor who had recently acquired a prominent three storey retail unit as a potential development opportunity. The property was to remain vacant whilst the owner occupier considered their plans for the building, during which time they were paying 100% of the business rates liability.
When a property first becomes vacant there is an initial three month period of rates relief (six months for industrial premises), after which the occupier will be liable for full business rates. This can be a substantial burden.
We were able to advise on a strategy to mitigate our client’s liability whilst the property remained vacant and secured three months Empty Property Rates Relief.
We successfully agreed a period of three months Empty Property Rates Relief resulting in a total of £7,300 in business rates savings over three months.
Our experienced team is ready to assist with unparalleled regional advice.
