Maughan Mitchell were instructed to advise Carnival UK, in March 2023, through their property adviser Realest.

With only a matter of days left before the close of the 2017 Rating List, to new appeals, we had to act quickly.

As usual, we considered relevant Rateable Value and Rent comparables, looking to other HQ offices, across Southampton, as well as other significant office buildings. As part of our review, we contacted other Chartered Surveyors, who were advising on similar HQ offices across Southampton, to ensure they took similar action to ourselves, to help strengthen Carnival’s case.

With time of the essence, we commenced appeal action against the existing 2017 List Assessment of £2,190,000, following client’s instructions and compiled our detailed case, beating the deadline for submission, of 31st March 2023.

As a result of our quick action, we were able to discuss Carnival UK’s Rating Assessment with the Valuation Office, working closely with other advisers who we had pulled together, to strengthen our case.

The result was a reduction in the 2017 List Rating Assessment, from £2,190,000 to £1,920,000, backdated to 1st April 2017. The significant reduction, of £270,000 Rateable Value, produced useful Business Rates savings of over £800,000.