Rippleglen
An estate of 166 retail properties throughout England and Wales

Article by

Andrew West
Director
Business Rates

(029) 20 346346

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THE PROBLEM

  • Reasonable levels of business rates are vital to the viability of individual shops

THE SOLUTION

  • Cooke & Arkwright considered valuations of each shop within the estate throughout mainland UK.
  • Appeals were made and reasoned valuations presented to the Valuation Office Agency, having regard to comparable rents and assessments.
  • Cooke & Arkwright's membership of the Rating Surveyors' Association provided comprehensive evidence with which to mount sustained challenges to each appeal and a co-ordinated approach to negotiations in each location.

THE RESULT

  • Our professional, structured approach ensured that valuations were prepared on each property prior to submission of an appeal.
  • The result of this careful preparatory work was reductions in assessments; crucially none increased as a result of our comprehensive review.
  • Our resources and thorough approach enabled us to provide first class advice on a large estate throughout mainland UK
  • The rate liabilities have been reduced by 10% contributing to the profitability and viability of many shops.

I have worked with Jeremy Symons over the past three years successfully leasing and buying property in support of my business. I continue to be very pleased with his knowledge of the market and expertise. Our relationship over this time has resulted in acquiring 20,000 sq ft at Capital Business Park in Cardiff, leasing 11,000 sq ft at Southpoint, and subsequently leasing an initial 42,000 sq ft at Parc Bedwas, followed by a succession of expansions of a further 11,000 and then 47,000 sq ft, enabling us to centralise all of our operations at Parc Bedwas in a single 100,000 sq ft facility. The acquisitions were completed at the perfect time for tenant purposes and the rent fixed throughout the term at very economical rates. A job well done.

Bob James, Aerfin