How DTZ’s rating and statutory valuation team reduced English Partnership’s Business Rates liability for the 2005 Rating List.
Overview
As part of its Thames Gateway redevelopment scheme, English Partnerships acquired a number of leisure, retail and office sites. With these acquisitions came a significantly increased business rates liability and DTZ was appointed to advise.
What DTZ did
DTZ’s approach centred on rating appeal and rates management work.
DTZ undertook a programme of rating appeals with the Valuation Office, engaging in an extensive series of negotiations.
DTZ also took full advantage of property rates relief available under current legislation.
Results
Even though most of the buildings on the sites were still standing awaiting redevelopment, DTZ has been successful in getting entries in the Rating and Council Tax Lists for these properties either deleted or reduced in value below the threshold where rates are payable. This has resulting in significant savings to the client.