Challenge

This is a bespoke modern office building designed and built specifically for Rolex as its Headquarters and European Repair Centre. The building is approximately 15 years newer than any other building on the estate with a state of the art cooling and heating system. It is set in an isolated area of the estate but with a prestigious entrance surrounded by a moat. There are numerous security elements, including a security fence around the perimeter of the plot, CCTV and remote control bollards making this is a very complex assessment.

Solution

The rating assessment for this building was valued at a much higher level than the older buildings on the Estate due to the individuality of the property. The Valuation Office Agency applied an uplift of 32% initially, however after much negotiation, we agreed that it should warrant only a 7.5% uplift. This led to a reduced 2010 and 2017 Rateable Value being agreed and savings of over £700,000.

Results

£709,000

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