Graham + Sibbald were tasked with reviewing Business Rates, to lodge a formal challenge against Rateable Value via submission of an appeal on one of our clients key properties located in Whitechapel, which carried a rateable value exceeding £2 million.
APPROACH & SERVICES PROVIDED
Graham + Sibbald was instructed to submit an appeal on one of the client's key properties, located at 41-71 Commercial Road in Whitechapel, which carried a rateable value exceeding £2 million. Our team carried out a detailed review of the existing assessment, before collecting and analysing rental evidence and settlement evidence from comparable properties across the local office market to build a robust, well-evidenced case. Following this analysis, we submitted a formal appeal to the Valuation Office Agency, setting out the case for a reduction and the evidence supporting it.
KEY CHALLENGES
The central challenge was that the adopted £/m² rate applied to the assessment was excessive when benchmarked against secondary office stock in the locality. Making this case required a thorough comparison of the subject property against genuinely comparable secondary office accommodation nearby, to demonstrate to the VOA that the rate applied did not reflect the true market position.
OUTCOME + RESULTS
The appeal was successful, delivering a meaningful reduction in the rateable value for the 2023 rating list. The client was very happy with the outcome, and the strength of that relationship led them to instruct Graham + Sibbald again when it came to signing for the 2026 rating list. Our client received a refund of £525,234.56.
‘If Faye moved, I'd move. Faye has worked wonders for us, and I couldn’t be happier with the service received thus far. I’m sure you heard the rebate Faye won for us, this being after I was advised by 2 other agents to not bother chasing because “you’ll never win” and well, Faye won and boy did she win big for us.”
WHY G+S
We use our expertise to deliver significant savings to both public and private sector clients. We work on all types of properties ranging from shops and offices to pubs and petrol filling stations.
Our business rates team are fully supported by the resources within our Agency, Valuation and Building Consultancy Departments, who are all relevant to assist in checking Rateable Values. Ensuring a nationwide reach and the highest standard of service and expertise.
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