Following the acquisition of a £13M office park in Bracknell for the purposes of conversion to a £32M residential scheme, a Check submission was required to correctly ascertain the RV of the property. Select Developments was faced with on-going business rates payments until the outcome of the appeal.
The Business Rates Team at Altus Group were able to negotiate a suspension of business rates payments whist submitting a Check application to VOA to ultimately reduce the business rates liability to nil. The outcome of the appeal was successful, which combined with the payment suspension, resulted in project cash-flow savings, from month one, of circa £50,000 per month or £600,000 over the course of the development period.
Whatever your property requirements, we can help. Altus Group Corporate Real Estate solutions tailored to your business.
If you pay business rates on a vacant property, we can help you significantly reduce or remove your business rates liability.
A business rates audit could enable you to recover business rates refunds going back many years and over multiple revaluations.
We can help you save money on your business rates. Check if you are paying the correct amount before launching an appeal.