Stainless Steel Fabricators save thousands on their business rates with RVA Surveyors.
Case study:
Stainless Steel Fabrication Specialists | Peterborough
A stainless-steel fabrication specialist with over 40 years industry experience.
KEY
FACTS
£20,052
SAVINGS
Warehouse
PROPERTY TYPE
The Client
Based in Peterborough, East Midlands, our client is a leading Stainless Steel Fabrication Specialist with over 40 years industry experience and creating stainless steel constructions for multiple sectors including Aerospace, Architecture, Waste & Recycling and Brewery and more.
The Problem
During the inspection conducted by RVA Surveyors, a number of discrepancies were found which would successfully lead to a reduction for our client.
The first was regarding the layout of the property which consisted of three separate areas that lacked internal access between each area, meaning that our client has to exit each unit and re-enter externally. Due to this, the property would be eligible for an allowance which can be applied if there are known or visible disadvantages in how owners and/or tenants use the premise.
Evidence was also found of the current Rateable Value (RV) of £123,000 was much higher than the agreed rent the client had of £105,000, which commenced from December 2021.
To ensure these would be rectified the surveyor put forward a Challenge Case to the Valuation Office Agency (VOA). However, once all the evidence had been collected and sent to the VOA, they returned with a tone reduction of £50.00 but not with an allowance, making the proposed RV still much higher than it should be at £116,000.
The Solution
To reaffirm the reasons of why an allowance should be applied, the surveyor contacted the VOA for their reasonings as to why they ignored the request while also supporting the evidence for the claim.
This included the evidence of similar properties in the area that had an allowance applied due to their layouts seen as a disadvantage, photographic evidence and an up-to-date floor plan to support the reason for an allowance to placed on the client’s property.
The Outcome
The Valuation Office Agency (VOA) returned confirming that the addition of a 10% allowance would be added, and along with the tone reduction the client’s Rateable Value was successfully reduced from £123,000 to £105,000 totalling over £20,000 in savings dating back to the beginning of the current rating list.
Not only does this reduction secure the clients historic and current liabilities for the 2023 rating list but also secures their future liabilities as they enter the 2026 Revaluation.
