Significant Chester Rating Reduction
Beresford Adams Commercial are delighted to confirm they have negotiated a substantial reduction on behalf of clients Oliver & Co in respect of their Head Office building in Chester.
The property was built as a Headquarters for Bank of Scotland, and as such attracted a higher unit rate reflecting previous usage.
Following negotiations with the District Valuer we were able to negotiate a significant reduction from £110,000 RV to £89,000 RV which would result in a significant annual saving to the firm with effect from 1 April 2010.
Justin Rice-Jones who handled the negotiations commented ‘the assessment was clearly out of tone with other assessments for similar style buildings within the immediate area and we were able to negotiate with the District Valuer to reach a very positive outcome with a pleasing reduction of 19.1%. It is important for clients to carefully consider their 2010 Rating List, and whereas the majority of negotiated reductions are not likely to be as significant as this, all reductions are important to occupiers’ property costs’.