Client: Multi-National Corporate Occupier
Building: 110,00 sq ft Office Building
- The client relocated from three buildings located in the South East of England into a single new HQ office building in Reading. The phased occupation of the building coincided with the commencement of the 2017 rating list.
- LSH were instructed to provide advice on minimising the client's rates liability for this new facility.
- LSH's rating expertise and local Thames Valley market knowledge led to the creation of a three stage strategy, as follows:
- Proactively agreeing that the building should be assessed on the last day of the 2010 rating list to take advantage of significant transitional relief
- Agreeing with the council that the liability should start part way through the phased occupation and not the beginning
- Securing reductions at both the Check and Challenge stages of the 2017 List appeal
- LSH's three stage strategy achieved total savings in business rates of £775,000
- LSH continues to provide ongoing business rates advice for potential additional savings due to a material change of circumstances during 2020 to this client on all its UK occupational properties
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