Archive for: Case studies

Saving business rates during refurbishment

Office Building We recently saved our Client, the occupier of a large office building, £80,000 in business rates during a programme of refurbishment. Overview If your property is uninhabitable due to redevelopment works, it may be possible to reduce your RV or have it removed from the Rating List altogether. We have had recent success […]

Lease Extension Valuation of a Flat in Bude

Lease Extension Valuation We were recently instructed by the Landlord of a ground floor, 2 bedroom flat in Bude, to provide advice on the premium payable in respect of the statutory lease extension of the long leasehold interest in their property. Our Client is the owner of the freehold interest in the building and the […]

Lease Extension Valuation

Lease extension valuation For many, one of the drawbacks of owning a flat or a maisonette on a long leasehold basis, is the concern the value reduces over time as the length of the lease decreases. Under the Leasehold Reform Housing and Urban Development Act 1993, long leaseholders (tenants) have the right to extend their […]

£50,000 in Rates Savings for Property Undergoing Refurbishment Works

Vickery Holman  achieved £50,000 in Rates Savings for Property Undergoing Refurbishment Works We acted on behalf of the new owner of a large warehouse building in Exeter which was being completely refurbished and upgraded prior to letting.  The works were substantial including the removal of cladding. The property was still entered in the Rating List […]

Business rates and property undergoing redevelopment works

Under the current definition of rateable value there is an assumption property will be ‘in a state of reasonable repair’. The overall effect in most cases is that repair will not be a significant consideration in rating valuation; this is not necessarily the case for property undergoing construction works. In 2015 the Supreme Court found […]

Applying ‘Mazars Ruling’ saves clients thousands in business rates

Mazars Ruling refers to the case ‘Woolway v Mazar’ when in 2016 a Supreme Court case changed the way that the Valuation Office Agency assessed the rateable value of premises where there is more than one occupier. Our team of business rates consultants work with clients to check and challenge business rates valuations and bills, […]

Business Rates change of use savings success

It’s not just offices, retail and industrial units we help with business rates checks and challenges  –  we recently helped a client save £3000 as they went through a change of use from a GP surgery to a funeral parlour. Business Rates Challenge Overview We were acting on behalf of a local Client who had […]

Rent review helps Exeter business save money

A Rent review allows for the periodical adjustment of commercial rents to the market level applicable at the date of review and these take place at the intervals agreed in the terms of the commercial lease signed by both tenant and landlord. To establish what a fair market rent is, requires detailed knowledge of both […]

What Is Property Acquisition?

What Is Property Acquisition? Commercial property accounts for an estimated 13% of buildings in the United Kingdom. Commercial properties are constantly changing hands through the process of acquisition. Property acquisition refers to the process of gaining ownership or rights over a real estate property. The rules of acquisition of any given property may vary from […]

Business Rates Savings – Empty Property Rates Relief

Vickery Holman have successfully agreed a period of 3 months Empty Property Rates Relief for a large vacant retail unit in Penzance, resulting in a total of £7,300 in business rates savings over 3 months! Acting on behalf of a local investor, the prominent three storey retail unit in Penzance had recently been acquired as […]