Rating appeals yielding big results for large or small businesses
Dunlop Heywood acts on behalf of hundreds of businesses large and small across the UK on Rating appeals – from ports, to back street pubs, out of town shopping centres to independent retailers.
Bosideng – China's equivalent to M&S – appointed Dunlop Heywood to advise on its growing UK portfolio. In the wake of substantial changes in the retail market, DH Rating Director Stuart Hicks advocated a challenge to the rateable value of Bosideng's flagship store off Oxford Street in London.
The store, which was an unusual shape, benefits from an extremely prominent position and had been designed specifically promote this major international brand. Like many other business in the vicinity it was being affected by the Crossrail works for the new Bond Street station on Davies Street.
Changes in the retail market had also been severe, post the economic crisis, but this opened up another opportunity to challenge assessments across the UK, reducing costs of occupation and giving clients budget certainty.
Following DH's negotiations a 12% reduction was secured generating six figure savings. This followed similar results achieved across the rest of the UK portfolio where the company trades as Greenwoods Menswear. Internationally the Group has over 5,000 outlets.
Hicks said: "As soon as we sat down with Bosideng UK to discuss a new rating strategy we immediately saw opportunities to improve the company's bottom line profitability and implemented an action plan.The results were dramatic and exceeded expectations."
- 12% reduction in assessment.
- Reduced assessments back dated.
- Substantial refunds in rates overpaid.
- Greatly reduced exposure to rates liability going forward.
The Dunlop Heywood Rating team acts for owners and occupiers of property in both the public and private sectors across the UK. The team has handled over 10,000 business rates appeals on behalf of clients including Peel Ports, Aviva Investors, Dublin International Airport, NewRiver Retail UK and Speedy Hire Plc. if you would like to speak to Stuart you can contact him at email@example.com
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