56 property
The Green welcomes leading ISP
The Green at Easter Park in Aldermaston, is pleased to welcome Isrighthere, the latest tenant to move on to the 47,000 sq ft office scheme
Isrighthere is the leading Internet service provider for the hospitality industry delivering innovative solutions and market leading technology for hotels, managed estates and serviced apartments. In 2012 Ofcom named it as the company to have connected the most homes to next generation Internet – even more than BT. The company’s expertise and dedication to its clients means it can name Grosvenor, The Ritz hotel and Cadogan Estates in its extensive client base.
The Grade A accommodation at The Green incorporates a large amount of environmental technology designed to increase the efficiency of the building by up to four times, which was one of the main reasons for choosing to locate to the park. Units are available from 2,600 sq ft to 7,400 sq ft.
Haslams and Woodford and Company jointly
advised the landlord and Michael King Commercial acted on behalf of Isrighthere.
In addition to welcoming a new tenant to the Park, existing occupier TFE10 are expanding and have taken a new lease for an additional 1,200 sq ft and now occupy the whole of Unit 4 totalling 2,594 sq ft. TFE10 is a specialist distributor supplying top-quality medical devices for use by the healthcare professionals in the private and public sector.
Neil Seager at Haslams commented: “These two latest deals demonstrate the continued appetite
Cancellation of the 2015
business rates revaluation On October 18, the Government announced its intention to postpone until 2017 the business rates revaluation that had been proposed for April 2015, writes Richard Jones, associate, Vail Williams LLP
The Government has been accused of deferring the revaluation until after the next general election for political reasons, at the expense of hard pressed businesses. Whatever the reasons for the Government’s decision it is perhaps more fruitful to consider how this will affect local companies and what action they could now take to minimise their rate bills.
How will the cancellation of revaluation impact on your business?
In simple terms business rates are calculated from the rateable value of the premises multiplied by the Uniform Business Rate (UBR). The current rateable value is an estimate of the open market rental value of the premises at April 1, 2008, before the economic recession had fully taken hold.
A revaluation at 2015 would have been based on rental values in 2013, and in much of the Thames Valley this would have been expected to result in significant reductions in rateable value.
However, the rating system is designed to ensure that the effect of the revaluation is neutral across
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the whole of England with any reduction in aggregate rateable values being offset by a higher UBR. So in very general terms the impact of the revaluation would probably have been fairly neutral across many parts of the local market. But at an individual property level the position could have looked very different with some sectors of the market facing increased rate liability and others, in struggling markets, benefitting from lower bills had the revaluation gone ahead.
What can you do to minimise your rate bills?
Assuming the Bill is passed by Parliament, the postponement of the revaluation will leave businesses paying rates on the current valuations until March 2017, with annual increases for inflation.
Those that have not already instructed a rating surveyor to advise on the possibility of making savings by appealing would be well advised to do so. A successful appeal could result in savings backdated to April 1, 2010.
Changes and vacancies
If anything has changed, if you have vacated any part of the premises, or you are suffering from any temporary disturbance that affects the enjoyment of your premises, you may be able to make a further appeal or claim relief from part of the bill.
However, you should bear in mind that it is not always wise to appeal because valuations can go up as well as down, so you should take professional advice to ensure you avoid the pitfalls.
Details: Richard Jones 07796-938554
RJones@vailwilliams.com
from occupiers in a quality product. These properties also have the added advantage of being able to save companies money on their energy costs."
Details: Neil Seager 0118-9211516
neilseager@haslams.co.uk
THE BUSINESS MAGAZINE – THAMES VALLEY – DECEMBER 12/JANUARY 13
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