Devil is in the detail

Some surprising variations in Rateable Values have emerged from new list

11 October 2016

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The draft 2017 Rating List was published on 30th September. The VOA provided a detailed breakdown by region and sector for properties in England. However, Welsh changes were released with an analysis of changes by property sector only. Cooke & Arkwright has now produced a breakdown of the movements in RV for each of the 22 Unitary Authorities in Wales. This has revealed a wide variation between authorities, with for example, an 11% decline in Neath Port Talbot against a 9% increase in Conwy. Within each Unitary Authority the distribution of winners and losers is even more pronounced.

A public house in Conwy has seen its RV rise by 406%, while the RV of a large shop in Llandudno has fallen by 48%. In Port Talbot, the RV for a food stall has risen by 225% and a shop in Neath has seen its RV fall by 54%.

While Cardiff shows a decrease of -3.48% and Newport -7.51%, the increase in overall RVs within some of the rural authorities in mid and north Wales especially Gwynydd, Conwy, Cerdigion and Powys, is, perhaps counter-intuitive. The declines in RV in the industrial heartlands of Neath Port Talbot, Rhondda Cynon Taff, Merthyr and Blaenau Gwent are unsurprising. 

Cooke & Arkwright have provided independent property consultancy services to the College for a number of years. This advice has included property valuations and negotiation around property acquisition and disposal, rent reviews and the preparation and negotiation of the College’s farm business tenancy agreement. The College has consistently received an excellent and professional service from Cooke & Arkwright and their valuable support to the College is recognised and appreciated.

Bob Bates, Director, Coleg Gwent