Industrial

Introduction

Traditionally, the industrial market has been one of limited rental growth with only slight adjustments being applied at previous revaluations. Values have however increased considerably over the last six years and we are anticipating 20 – 30% increases in Rateable Values being reflected at the next revaluation on 1st April 2023. The industrial & logistics sector has scaled new heights with records being set for both the occupier demand and investment activity. We provide advice to both industrial landlords and tenants. The case studies below illustrate some of the work we have done in this sector:

Case Studies

Client Argo Real Estate Asset Management Location Nobel Road, London Service Rating Appeal Service Result We lodged appeals with the VOA on the basis that the units were incapable of beneficial occupation during redevelopment works. Following negotiations, the RVs were reduced to £0, generating savings of £89,000

Client Palace Capital Location National Service Full Business Rates Service Result Appointed as the sole advisor and have implemented our ‘Intermittent Occupation Strategy, generating savings of £305,000 were achieved in the 2019-2020 Rate year and already to date in the 2020-21 Rate year savings of £235,000 have been secured

Client Express & Star Location Wolverhampton Service Rating Appeal Service Result Successful appeals generating 20% RV reduction for underutilisation on the 2010 & 2017 rating lists. Total savings of £460,000

Client Smurfit Kappa Location National – 50 Sites Service Rating Appeal Service Result Successful appeals and relief applications completed under both the 2005 and 2010 Rating Lists, generating savings of £2.14 million. Knight Frank are also the retained advisor under the 2017 rating list

Client Partner Logistics Location Gloucester and Wisbech – 2 sites Service Rating Appeal Service Result Both appeals successful removing plant from assessments. 14% reduction in RV. Overall savings of £1 million

Client Dalkia / EDF Location Durham Service Rating Appeal Service Result New Blomass Power Plant Negotiated RV at 30% less than comparable stations