16 December 2009

Company directors and financial officers should now be reviewing their draft rating revaluations ready to appeal in April 2010 when they become official, advises Robert Gardner, a director at property consultants Chesterton Humberts.

Gardner, who specialises in ratings appeals, highlights that businesses may be in for an unpleasant surprise as the new ratings are based on valuations done in April 2008 when the property market was in a very different state than it is now.

The draft valuations cannot be appealed until April 2010 when they become official, but owners and occupiers will need to instruct specialists to review the rateable values and prepare appeals as soon as possible as the process can take months to complete and businesses will have to pay the disputed rate until a decision is made on the appeal.

Gardner says: “The Government’s valuation officers have an enormous workload to cover which means they cannot always spend time necessary on something as extensive as a large education, health or leisure facilities which may have a number of wings or outbuildings to take into account. What we do is undertake extensive scrutiny of clients’ properties and provide compelling appeals which can result in substantial reductions in rates paid.

“We undertake reviews on a success related fee basis. Unless we achieve a reduction clients do not have to pay us so there is every reason to consider an appeal.”

-ends-

Notes to editors

Recent successful appeals include:
• A West Country hospital with a £2,400,000 rateable value (RV) reduced to £1,750,000 RV saving £550,000 in rate payments
• A hotel in Bath with a £375,000 RV reduced to £300,000 RV, saving £125,000 in rate payments
• A London college with a £350,000 RV reduced to £320,000 RV, saving £67,000 in rate payments
• A London club with a £375,000 RV reduced to £350,000 RV, saving £56,000 in rate payments
• A country club in Suffolk with a £333,000 RV reduced to £272,000 RV, saving £129,000 in rate payments
• A marina in Southampton with a £495,500 RV, reduced to £276,500 RV, saving £164,000 in rate payments

For further information please contact:

Robert Gardner, Chesterton Humberts Tel: 01722 342 391

Revolution Public Relations - the commercial property PR and media relations specialist.