Opticians gets a clearer view of savings with RVA Surveyors
Case study:
Opticians | Lancashire
Specialising in retail sales related to eye care and other human health services, providing optician services, including eyewear sales and eye health assessments.
KEY
FACTS
28%
REDUCTION
BASED IN
LANCASHIRE
BACKDATED
SAVINGS
TO 1ST APRIL 2023
The Client
Our client operates from a commercial property located at Hope Terrace, Lostock Hall, Preston. The company has established itself as a reliable service provider within its industry.
Their premises in Preston consists of a combination of office and workshop spaces. The client values accuracy and suspected they were paying business rates based on a larger space than they actually occupied.
The Problem
The original business rates assessment was based on incorrect zoning within the property. A structural wall, which separated distinct areas of the premises, was misinterpreted in the data. The property had been valued beyond the structural wall, which was contrary to the RICS Code of Measuring Practice that dictates the proper application of zoning in property assessments.
Previous assessments by the Valuation Office Agency (VOA) had correctly measured the property up to the structural wall, but the latest valuation included areas that should have been excluded. As a result, the client was paying business rates based on a larger space than they actually occupied. The error in the zoning led to an inflated rateable value, which caused the client to incur higher costs than necessary.
The Solution
RVA Surveyors conducted a comprehensive inspection of the property and assessed the zoning issue. By referencing the RICS Code of Measuring Practice and the property’s floor plans, we identified that the survey data had incorrectly extended the valuation beyond the structural wall. We prepared a detailed case highlighting the zoning error and its implications for the property’s rateable value.
A first check was submitted to the VOA, requesting a re-evaluation based on the correct zoning. Additionally, a second check was submitted after a case review, with additional clarifications regarding the errors in the initial assessment.
The Outcome
After a re-inspection of the premises by the VOA case worker, the errors in the zoning were acknowledged. The revised assessment took into account only the areas properly zoned as per the RICS guidelines, effectively reducing the rateable value. This led to a successful reduction in the client’s business rates liability.
The client’s business rates were adjusted to reflect the accurate use of the property, resulting in significant cost savings. The reduction in the rateable value ensured that the client was no longer overpaying based on incorrect zoning and inaccurate measurements.
Savings achieved: £3,809
Surveyor comment
“After reviewing the property’s zoning, it was clear that an error had been made in the survey data, which had led to an inflated rateable value.”
