On behalf of Wilmington Group Limited, we negotiated a reduction in their rates assessment from RV £530,000 to RV £395,000 at their North London office i.e.saving our client over 25% of their liability under the current 2010 Rating List.
This agreement followed a previous Valuation Tribunal hearing on behalf of the same client on a highly comparable building nearby where the Tribunal ordered a reduction in assessment from £240 per m2 down to £170 per m2 - a material reduction in our client’s annual property overheads by nearly 30%.
Michael Moon, Newton Perkins’ Head of Rating, commented:-
“It is proving increasingly necessary for us to represent our clients at the Valuation Tribunal in light of the inconsistencies which appear in office premises in certain parts of London. It is often preferable that our client’s appeal is heard by the Valuation Tribunal as we get a full and fair hearing of every case and to maximise our client’s savings.”