Business ratings: Telefonica, Market Street, Manchester

As part of the wider Telefonica business rates instruction, the O2 shop on Market Street, Manchester was appealed on the basis that its rates assessment was too high.

How we helped

Following instructions from Telefonica an appeal was submitted for the 2010 Rating List challenging the Rateable Value. Whilst undertaking our on site inspection and survey, we discovered that a lower ground floor mezzanine used by the previous tenants was not part of our clients occupation and we also picked up inaccuracies in the Valuation Office’s areas for the ground floor retail area.

We invited the Valuation Officer’s referencer to meet with us on site to agree these variations.

Outcome

After lengthy negotiations including submitting a Statement of Case to the Valuation Tribunal, we were subsequently able to settle the case with the Valuation Office. Our strongly argued case enabled us to secure a reduction in the Rateable Value of 23.5% for the duration of Telefonica’s occupation in the 2010 Rating List and 24.1% for the duration of the 2017 Rating List as well, resulting in savings to Telefonica in excess of £250,000.