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Are your life sciences properties being held back by high business rates?

Peter Foley is our resident guru here at CPA, and has been passionately following the shifting world of business rates for many years. With a keen political insight, Peter’s writing reveals how policy change is key to understanding your business rates further, and how this could translate into substantial savings. In his weekly column, Peter also outlines a desired path forward, with changes we’d like to see implemented for a fairer system on the nation's business rates.

Exciting plans for growth in the biotech industry call for a rigorous re-evaluation of business rates, according to Commercial Property Advisors (CPA). The innovative nature of the life sciences market has given rise to transformative projects, including the repurposing of warehouses through augmented reality and the use of virtual reality tools in laboratories and production facilities. CPA, a recognized specialist in business rates, believes this presents a prime opportunity for life sciences offices, labs, and production units to have their rates formally assessed by RICS-regulated surveyors. In cases where bills seem unreasonably high, CPA is prepared to undertake formal challenges, potentially resulting in significant savings and reduced bills going forward. Just as you dedicate meticulous attention to developing your biotech business, it's worth subjecting your rates to the same level of scrutiny. For expert advice and assistance, don't hesitate to contact CPA today.

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