Through a partnership with Realest, Maughan Mitchell were appointed by Liverpool Victoria, to provide Business Rates advice across their property portfolio.

Maughan Mitchell undertook a thorough review of LV’s 2017 Rating List valuations. Our advice concluded that the Rateable Value for Frizzell House, Bournemouth, of £1,180,000, looked excessive. As part of our review, we looked at comparable properties across the region, including Rating List Assessments, as well as Rental Evidence. After detailed reporting and instructions from LV, we commenced appeal action against the 2017 List Rateable Value. This progressed to us submitting a detailed ‘Challenge’ case, through the Government Gateway portal.

After detailed discussion with the Valuation Office, we were successful in securing a significant reduction in LV’s 2017 List Rateable Value, at Frizzell House; from £1,180,000 to £1,040,000, backdated to 1st April 2017. This produced Business Rates savings, to our client, of over £340,000.

Further to this significant reduction at Frizzell House, we have also been able to secure some additional Rates Savings for LV; by way of Empty Rates Relief at Victoria House, Bournemouth, which has become surplus to LV’s operational requirements. Savings were over £40,000, so another great result.

For expert Business Rates advice, please get in touch.