023 8081 1664   |   info@maughanmitchell.co.uk   |   LinkedIn

023 8081 1664

info@maughanmitchell.co.uk   |   LinkedIn

Case studies from some of our clients…

Town Quay, Southampton - Business Rates Advice

Maughan Mitchell have been successfully advising Associated British Ports in rating matters for over 20 years.

Town Quay, Southampton has been subject to significant change over the last decade. Over this period we have worked closely with ABP, enabling us to successfully minimise their rating liabilities and those of their tenants. Work undertaken includes the reduction of Rating Assessments, securing temporary benefit during periods of building works to common areas and most notably securing Zero Assessments where parts have fallen out of use and have required refurbishment / redevelopment.

Total Savings as a result of our activity for ABP amounted to in excess of £750,000.

Associated British Ports

AGEAS Bowl, Southampton - Rating Advice

hilton hotels logo

Acting for Hilton Hotels, we have significantly reduced the Rating Liability at the Home of Hampshire Cricket.

On receiving instructions, we explored the level of the Rating Assessments and examined the need for the number of assessments which existed.

Following the lodging of Business Rates Appeals, we entered into detailed negotiations with the Valuation Office. By putting forward detailed evidence, from comparable cricket grounds and hotels, we were able to successfully negotiate a reduction in the hotel assessment, from £730,000 to £480,000 Rateable Value, producing benefit under both the 2010 and 2017 Rating Lists. Further, we were able to reduce the Cricket Ground assessment, merging in the Perform Sports Clinic into the Stadium Assessment, resulting in a £40,000 reduction in Rateable Value.

The aggregate value of the benefit secured was in excess of £800,000.

Bristol - Rates Advice

Hargreaves Lansdown

Maughan Mitchell were instructed to advise Hargreaves Lansdown, in minimising their rates liabilities, during their move to new 100,000 sq ft HQ offices, in Bristol Harbourside.

Through negotiations with the Valuation Office, we successfully achieved a phasing in of their Rating Assessments for the new HQ building, while mitigating rates on their existing locations in Clifton. Further, we were able to produce additional Rates Savings by securing a reduction in the new building’s Assessment and a temporary allowance during the period of neighbouring building works.

Business Rates Savings from our efforts was in excess of £2,000,000.

Southampton – Lease Renewal and Re-gear advice

Paris Smith LLP logo

Acting on behalf of, Paris Smith LLP, a large provincial legal practice, we provided strategic landlord and tenant advice, in relation to the two substantial office buildings they occupied on a leasehold basis.

We successfully negotiated a new lease on their 20,000 sq ft landmark building, with only a modest rent uplift agreed and significant incentives – 50% rent for the first three years of the new lease. This was achieved despite a climate of increasing office rents prevailing at the time, due to a limited supply of available stock.

We also provided advice in relation to their ‘sister’ building which culminated in the removal of a tenant only break clause in return for a nine month rent free period.

The aggregate value of the incentives secured was well in excess of £750,000.

paris smith southampton

Alresford, Hampshire - Rent Review advice

Wessex Pharmacies logo

Maughan Mitchell acted on behalf of the tenants of three adjoining retail units in the popular market town of Alresford, advising them in relation to rent reviews due under their respective leases.

The tenants, who included Wessex Pharmacies, Fitique and Sole Butchers (who had the same landlord) were served with potentially business crippling review notices proposing rental increases of 60-70%.

We carried out extensive research into transactional rental evidence and pieced together a comprehensive and accurate picture of rents in the area. Armed with this we engaged in detailed negotiations with the landlord’s agent and ultimately agreed much more modest increases of less than 20%.

We also took the opportunity to negotiate lease extensions on behalf of two of the tenants who were keen to preserve their future at the location and used this to leverage incentives from the landlord by deferring the rental increases on review by 12 months and agreeing rent free periods.

Wessex Pharmacies Alresford Hampshire

Land at Britannia Road, Northam, Southampton – Acquisition advice

Acting on behalf of a private investor Maughan Mitchell advised on the acquisition of a number of industrial properties in Northam, Southampton.

The instruction involved negotiating the purchase of freehold properties from Southampton City Council and also of buildings subject to complicated ground lease arrangements.

Although the transaction was complex involving a number of different interests the client was able, with our support, to acquire strategically important buildings at highly competitive prices to facilitate future business expansion.

Acquisition advice Britannia Road Northam Southampton