The relative economic health of the distribution and logistics sector has made it a tempting prospect for the Valuation Office Agency in their endless quest for soft targets for rate increases.
The latest 35% average hike in rate bills in this growth area is often only loosely based on a valuation that may never have been subject to detailed physical measurements. Official valuers' assumptions tend to favour an ability to pay.
What is the impact of all this on already wafer-thin margins in a highly competitive market?
Commercial Property Advisors (CPA), business rate consultants, believe that UK warehouses should look for savings no less than any other business and, to this end, offer to direct their team of RICS-regulated surveyors to undertake a free detailed assessment of sites throughout the UK. The discovery of unique storage features may well lead to a formal rate challenge to the VOA, resulting in a realistic and fair rate reassessment.
For free help and advice, contact CPA without delay.