Expertise in specialist properties results in six figure saving
We have acquired and adapted our expertise to value the specialist properties unique to this client.
To date, we have saved them in excess of £2,000,000 in rates payable and this has largely come about as a result of reductions in rateable value. We have also audited the use of their facilities and where appropriate have secured discretionary relief on those facilities that are not fully utilised.
How we helped
The team successfully secured a significant reduction in NATS former training facility in Hurn, Bournemouth. Due to the specialised nature of the property, we were able to argue that functional obsolescence needed to be built into the valuation to account for the lack of modernisation. An interim reduction from £462,500 to £347,500 has been obtained with further negotiations due to take place.
Furthermore, additional savings were achieved as part of a phased vacation using Section 44a of the Local Government Finance Act. Due to the forward-thinking strategy of Cluttons rating team, we were able to secure 24 months of relief rather than the statutory three.