News & Views - 2019
The latest news, events and insights in the Wales property world

Upper Tribunal clarifies rating valuation of buildings undergoing redevelopment

Upper Tribunal clarifies rating valuation of buildings undergoing redevelopment

The Upper Tribunal (Lands Chamber) has recently issued its decision in the case of Jackson (VO) v Canary Wharf Limited (2019) UK UT136 (LC). This was an appeal made by…

Cardiff Met adds to estates portfolio with £1.55m purchase

Cardiff Met adds to estates portfolio with £1.55m purchase

Cardiff Metropolitan University has acquired Alexander House in Llandaff, formerly occupied by Bellway Homes for £1.55m. The 15,000 sq ft building is close to its Llandaff campus and will house…

Agricultural Tenancy Reform could have far reaching consequences for landlords

Agricultural Tenancy Reform could have far reaching consequences for landlords

Following recommendations put forward by the Tenancy Reform Industry Group (TRIG), The Welsh Government is running a consultation which seeks views on reforming and modernising agricultural tenancy regulations. Although the…

Architects draw up creative design hub in Womanby Street

Architects draw up creative design hub in Womanby Street

Gaunt Francis Architects has relocated its Welsh design studios in Cardiff to fully occupy a refurbished five-storey office building in Womanby Street in the heart of the city centre. Kames…

Prolonged pain for retailers in ATM business rates battle

Prolonged pain for retailers in ATM business rates battle

The long running dispute between retailers and the Valuation Office Agency (VOA) over business rates on ATM cash machines has been further prolonged.

British Airway’s maintenance HQ in Llantrisant sold

British Airway’s maintenance HQ in Llantrisant sold

Cooke & Arkwright’s Investment agency team have advised on the sale of an office investment let to British Airways. Acting on behalf of Curzon Advisors, and with joint agents Cushman…

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Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years. They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales. They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan. The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions. The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales. I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

The Welsh Rugby Union Limited, Welsh Rugby Union Group