Property management company lands business rates savings with RVA Surveyors
Case study:
Property Management Company | Chester
Specialises in property development and management for businesses in aerospace, aviation, and related sectors.
KEY
FACTS
EIGHT MONTHS
ACHIEVED IN
£40,866
SAVINGS
Warehouse
PROPERTY TYPE
The Client
RVA surveyors engaged with a well-established manufacturing business located in Aviation Park, Hangar No 5,6 and 8 in Chester that was feeling strain of financial pressures. This was driven by escalating operational costs and a business rates liability that was higher than anticipated.
The client had been operating from a large industrial facility, which had been subject to a business rates assessment that they believed was unreasonably high.
The Problem
During a review of the client’s business, it became apparent that the property’s rateable value (RV) had been assessed by the Valuation Office Agency (VOA) based on outdated assumptions about its usage. The client had initially accepted the assessment, assuming the VOAs assessment was accurate.
The VOAs assessment failed to account for updates to the property’s use, resulting in an increased liability. Lacking the time and knowledge to dispute this, the client had been paying more than necessary, unaware of how overvalued/overrated they really were.
The Solution
RVA Surveyors conducted a thorough inspection of the properties, including its layout, machinery, and storage areas and compared it to similar properties in the region. We identified discrepancies in the original valuation, particularly in how the property’s functional spaces had been classified and valued.
As part of the “Check” phase in the Check, Challenge, Appeal process, we presented a case to the VOA, pointing out errors in the original assessment. To support our argument that the property’s rateable value was too high, we supplied key evidence, including photographs and floor plans.
The Outcome
This contributed to a crucial reduction in the client’s business rates liability. The savings provided immediate financial support, highlighting the importance of regularly reviewing business rates.
Whilst on site the surveyor identified significant conflicts within the areas applied to three properties occupied by the client. After receiving our submission, the VOA got in touch to arrange a joint onsite inspection alongside them. Following the inspection, the caseworker concurred that areas applied prior to RVAs involvement were inaccurate. This achieved a significant savings for the client.
Hangar 5 – £15,951
Hangar 6 – £17,930
Hangar 8 – £6,985
Combined savings achieved: £40,866
Surveyor comment
“Conducting a thorough assessment across multiple properties is key to identifying hidden inaccuracies in valuations. We were able to secure significant savings for the client, ensuring they weren’t overpaying on their business rates. Unfortunately we see this happen far too often.”
