Office

Introduction

The current Rateable Values and corresponding Rates Payable applied to offices still reflect the buoyant market as at the valuation date of 1st April 2015. The market has witnessed considerable change as businesses reconsider their return to the workplace. The flight to quality has ensured most modern, sustainable offices have held their rental value as we approach the next revaluation effective from 1st April 2023. We are however anticipating rental value falls for secondary office buildings as a result of tenant release space coming onto the market. We act for a plethora of office occupiers and landlords across the UK. The case studies below illustrate some of the work we have done in this sector:

Case Studies

Client Investec Location Gresham Street, City of London Service Full Business Rates Service Result 2010 rating list successfully negotiated, securing savings of £1.2 million

Client The Law Society Location London – 6 locations Service Full Business Rates Service Result Savings of £335,556 (in first 12 months)

Client KPMG Location 15 Canada Square, Canary Wharf Service Full Business Rates Service Result Appeals settled to merge 15 Canada Square and 30 North Colonnade assessments generating savings of £2.6 million

Client British Land / Storey Location Central London Offices Service Full Business Rates Service Result Rate payments and appeal savings on this new serviced office provider

Client Aviva Investors Location National – 107 locations Service Full Business Rates Service Result Savings of £2.0 million in first 18 months

Client The Royal College of Pathologists Location Alie Street, London Service Rating Appeal Service Result Secured a deletion of the assessment and the property was brought back into assessment once the works were completed, generating a saving of £60,000

Client Osborne Clarke Location Head Office, Bristol Service Rating Appeal Service Result 15% reduction in Rateable Value negotiated generating savings of £780,000

Client Callaghan Square (Luxembourg) Holding SARL Location Callaghan Square, Cardiff Service Rating Appeal Service Single line on case We agreed an RV reduction based on the substantial refurbishment of the space being left in a CAT A state. Securing savings of £81,000