Real estate management firm drives down business rates with RVA Surveyors
Case study:
Real Estate Management Firm | London
Specialising in the letting and operation of its own or leased real estate properties.
KEY
FACTS
FIVE MONTHS
ACHIEVED IN
£9,038
SAVINGS
Office
PROPERTY TYPE
The Client
Situated at Mackenzie Industrial Park, Bird Hall Lane, Stockport, the client operates within the industrial sector, utilising both warehouse and office space for their business.
They sought to ensure that their business rates were based on an accurate and up-to-date assessment of their property, reflecting the actual space they occupied.
The Problem
The Valuation Office Agency (VOA) had previously inspected and assessed the property, but their recorded measurements were incorrect. The floor plans used for the valuation did not accurately reflect the actual layout and size of the premises, leading to an overestimation of the space occupied.
As a result, the client had been paying business rates based on an inflated assessment, meaning they were overpaying for areas that did not exist or were miscalculated. Without a reassessment, these unnecessary costs would have continued.
The Solution
RVA Surveyors conducted a detailed inspection of the property to establish an accurate measurement of the current operational space. The survey identified several areas that had been reduced since the last VOA assessment, including sections of the warehouse and office space that were no longer in active use.
Once the revised measurements were verified, RVA submitted a ‘Check‘ from the (Check, Challenge, Appeal) process to update the VOA, ensuring the new, reduced areas were accurately recorded. By providing comprehensive evidence of the changes, the case was supported with the necessary data to secure a fair and accurate revaluation of the property.
The Outcome
The updated assessment was successfully accepted, leading to a significant reduction in the client’s business rates. By ensuring that their charges were based only on the space they actively used, the client avoided unnecessary financial outlay and achieved substantial cost savings.
The revised valuation also meant that future business rate calculations would be aligned with their actual property footprint, preventing any ongoing overpayments.
Savings achieved: £9,038
Surveyor comment
“Our inspection confirmed that the client had reduced certain areas of their property since the last VOA assessment.”
