Roger Hannah were instructed by a North West developer to provide advice and recommendations on a portfolio of vacant commercial stock awaiting redevelopment.
The developer in question had recently acquired the portfolio, which had long been vacant. Empty rates liabilities were therefore applicable, which totalled in excess of £200,000 for one financial year period.
Prior to the instruction Roger Hannah reviewed the commercial property portfolio and calculated the empty rates liability for the client.
The expert team were able to devise a personal strategy for effective mitigation of the client’s empty rates liability with little involvement from the client.
The strategy would apply whilst the portfolio is awaiting redevelopment with further advice then provided once redevelopment of the stock begins.
Following confirmation of the instruction Roger Hannah were able to put in place an effective occupation strategy whereby 3-6 months empty rates savings in the region of £90,000 were generated for the client during one scheme.
Further schemes could then be carried out throughout the year, if required, generating further savings.
If you are the owner of vacant commercial property and have a liability for empty rates then our team are here to help.
Please contact our specialist Business Rates team for a free initial consultation.